Vantage Asset Management has launched a new $100 million private equity fund of funds.
The Vantage Private Equity Growth 2 (VPEG2) provides investors with access to private equity funds in the later expansion and the mid-market buyout space, the firm said.
“This is the space where private equity can assist in transforming already successful companies through the next stage of their growth, adding products and services, growing market share and becoming dominant players in their sector,” said Vantage founder Michael Tobin.
“Not only will an investor in VPEG2 benefit from a diversified portfolio of private equity assets, they can also be comforted by the fact that their money is ultimately being managed by the best private equity practitioners in the country,” Mr Tobin said.
“This will ultimately deliver VPEG2 investors the types of return that have attracted the largest endowment, pension and industry funds globally to this rewarding asset class."
The fund provides investors with a tax-effective structure and targeted returns of 20 per cent per annum over a six- to eight-year investment timeframe, a statement issued by Vantage said.
Mr Tobin claimed that VPEG2 is a “solution” to access-related challenges investors face when looking to invest in private equity.
“The Vantage fund of funds provides a well-structured, risk managed, participation for smaller institutions, sophisticated investors and self-managed super funds (SMSFs) into the high-return private equity asset class,” the statement said.
“VPEG2’s innovative structure and well-defined strategy enables it to be well positioned to provide investors, including SMSFs, access to this rewarding segment of private equity, which has traditionally for them been inaccessible due to the high investment minimums and the skills and expertise required to participate in this high performing asset class," the statement concluded.