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CD PRIVATE EQUITY FUND I — Net Asset Value 2012
Dec 12, 2012
64626_rns_2012-12-12_3e19e3a4-9659-46af-9d13-11359d83e57e.pdf
Net Asset Value
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13 December 2012
ASX: USF US Select Private Opportunities Fund (Fund)
NTA and Fund Update at 30 November 2012
NTA update
The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 30 November 2012 was $1.53* per Unit (31 October 2012: $1.54 per Unit).
Fund update
1. Capital Call Update
During the month of November, the Fund received its third capital call for the US Select Private Opportunities Fund, LP ( LP ), for a total consideration of US$5.0 million, which will fund upcoming investments. The Fund committed an 85.5% share (approximately US$4.3 million), while Cordish Private Ventures, LLC and US Select Private Opportunities Fund GP, LLC, contributed the remaining amount based on their proportionate shares.
Inclusive of this, at 30 November 2012 a total consideration of approximately US$12.5 million has been called by the LP in total (or approximately 18.0% of committed capital). The Fund’s proportionate share towards this, as above, is approximately US$10.7 million.
2. Drawdown Update
During the month of November, the LP received two capital calls from Prometheus Partners IV, L.P. ( Prometheus ) for a total consideration of approximately US$1.4 million (or 2.1% of committed capital). These calls reflected capital requirements for one of Prometheus’ underlying investments, who acquired six IHOP restaurants in Virginia and North Carolina.
Inclusive of this, at 30 November 2012 the LP had received drawdown requests from underlying investments totalling approximately US$6.5 million. This represents approximately 9.3% of total funds.
For more information, contact:
Alex MacLachlan 1300 454 801
*Source: Dixon Advisory & Superannuation Services Limited – historical performance is not a guarantee of the future performance of the Fund
The US Select Private Opportunities Fund is the first Australian-listed fund with a primary strategy of investing in US small-to-mid-market private investment funds, adopting a fund-offunds investment strategy.