DOTW (Profile) – Kensington Private Equity Fund 2022 fundraising

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By CPE Analytics

Kensington Private Equity Fund is an investment trust established under the laws of the Province of British Columbia. The Fund offers class C, E, G, M, U units to accredited investors.

Kensington Private Equity Fund’s investment objective is to maximize long-term total returns for unit-holders through distributions of net income and net realized capital gains from private equity investments, while minimizing risk through prudent diversification.

The Fund will invest in a portfolio of private equity investments, including private equity funds and direct investments in private companies.

Kensington Capital Advisors Inc., a wholly-owned subsidiary of Kensington Capital Partners Limited, is the trustee and manager of the Fund. It is responsible for managing the day-to-day activities and affairs of the Fund and for making all investment decisions and will receive fees from the Fund.

In 2022, Kensington Private Equity Fund has so far (Jan-Nov) raised $306 million from 1,980 investors (* accounting all repeating investors) from 10 Canadian provinces and from Israel and USA.

Ontario investors led with $141 million from 717 investors while Quebec investors led the number of investors with 771 for investments of $78 million.

Financial Reports

As of September 30, 2022, Kensington Private Equity Fund reported $1.734 billion on net assets. For the six months ended September 30, 2022, the Fund paid $7.31 million in management fees (inclusive of HST) and $35K, including $576K clawback in Q2, in performance fees (inclusive of HST). It paid no distributions and $460,000 in redemptions.

For the year ended March 31, 2022, the Fund paid $10.68 million and $3.92 million in management and performance fees respectively, on net assets of $944 million. It paid out $27.0 million in distributions and $15.8 million in redemptions.

Deal Type: Private Issuer Funds – Retail PE Funds

Information can only be found in Canadian Financings database and can not be found in any other databases, Canadian or foreign.

Deal of the Week (DOTW)

DOTW is a weekly feature of Private Capital Journal that showcases one particular financing (deal) from CPE Analytics’ Canadian Financings, Canada’s only comprehensive all financing database. (https://www.financings.ca/).

photo credit: CPE Analytics