TORONTO, September 20, 2011 — Kensington Capital Advisors Inc. is pleased to announce a distribution to Unitholders of the Kensington Global Private Equity Fund of $0.68 per Unit, for a total distribution of approximately $1.7 million. The distribution will be paid on October 14, 2011 to all holders of Units on the record date of September 30, 2011.
“We are delighted to be paying out our first distribution to our investors,” said Tom Kennedy, Managing Director of Kensington, “the Fund has now reached the stage where the investments are maturing and portfolio companies are being sold for gains that can be distributed to our Unitholders. We look forward to a continuing program of distributions as the portfolio continues to mature and additional gains are realized over the coming months.”
The Kensington Global Private Equity Fund holds a diversified portfolio of investments in private companies, many of which have increased in value since the date of the initial investment. These gains are realized over time, typically when the underlying company is sold or offers its shares to the public. Until such time, these gains remain unrealized within the portfolio and are reflected in the Net Asset Value (NAV) of the Fund but cannot be distributed to Unitholders. To date, the Fund has achieved realized gains of approximately $1.7 million, and these realized gains are now being distributed. As of September 15, 2011, the Fund has recognized additional unrealized gains of approximately $14.2 million, which are reflected in the NAV but not yet available for distribution.
The distribution to Unitholders announced today will be eligible for reinvestment into additional Units through the Distribution Re-Investment Plan (DRIP) established for the Fund and announced separately. Current Unitholders who wish to reinvest the proceeds of the Distribution to acquire additional Units should contact their Investment Advisors to enrol in the DRIP via the FundSERV system. The distribution payable on the Class A Units and the Class F Units is identical, at $0.68 per Unit.
The Kensington Global Private Equity Fund offers individual investors a diversified portfolio of world-class private equity investments, including hard-to-access private equity funds and direct investments in private companies. Traditionally, investments in private equity have only been available to investors who could meet very high minimum investment thresholds. The Kensington Global Private Equity Fund was established to make these investment opportunities available to the broader investing public.
Kensington is a leading Canadian private equity investor, founded in 1996. To date, Kensington has committed over $550 million to private equity investments through its private equity programs. Institutional investors such as pension funds and professional asset managers, as well as high net-worth individuals and retail investors, hold Kensington funds. For more information on Kensington and current offerings, please visit www.kcpl.ca.
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