CD Private Equity Fund I · ASX:CD1
CD Private Equity Fund I — Cordish Dixon Private Equity Fund Series — Investor Presentation (August 2019)
14 slides from CD Private Equity Fund I's investor presentation, Aug 20, 2019
Slide 1: Investor update August 2019
For personal use only Investor update August 2019
Slide 2: Important Information
Important Information This presentation has been prepared by Walsh & Company Investments Limited as Responsible Entity (ACN 152 367 649, AFSL 410 433) of For personal use only the Cordish Dixon Private Equity Fund Series (Funds or Fund Series) which includes Cordish Dixon Private Equity Fund I (ARSN
Slide 3: A Unique Joint Venture
A Unique Joint Venture For personal use only Fourth generation family-owned global business with four major areas of expertise Entertainment/Sports- Real Estate Development Gaming and Lodging Anchored Projects Private Equity Investment One of the largest and most Developed several of the most Leadin
Slide 4: Sophisticated investors – private equity allocations
Sophisticated investors – private equity allocations For personal use only Family Office Yale Endowment – $32B Average Family Office asset allocation Yale University Endowment’s asset allocation for 2018 Domestic Commodities Hedge Funds Bonds and Cash Equity 3.4% 5.7% 4.7% 3.5% Foreign Equity 15.3%
Slide 5: Why Private Equity?
Why Private Equity? For personal use only Consistent “playbook” to create value Acquire good businesses that have a proven product or service offering at reasonable valuations Upgrade management team ‒ Replace controller with real CFO ‒ Add additional sales/marketing staff; fix compensation stru
Slide 6: Typical private equity fund – investment path
Typical private equity fund – investment path For personal use only Private equity funds generally take a number of years before turning cash-flow positive The returns in the later years typically reward patient investors Net cashflow Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 1
Slide 7: I – CD1
Cordish Dixon Private Equity Fund I – CD1 For personal use only Underlying manager location Sector exposures Distribution Software & 9.4% Business Technology Services 4.0% 24.3% Healthcare 10.8% Telecommunications 4.6% Manufacturing 10.8% Consumer & Retail 36.2% Investments No of companies Number of
Slide 8: II – CD2
Cordish Dixon Private Equity Fund II – CD2 For personal use only Underlying manager location Sector exposures Distribution 9.5% Business Services Software & 22.5% Technology 4.7% Healthcare 22.7% Manufacturing 14.1% Telecommunications Consumer & Retail 2.0% 24.5% Investments No of companies Number o
Slide 9: III – CD3
Cordish Dixon Private Equity Fund III – CD3 For personal use only Underlying manager location Sector exposures Distribution 8.5% Business Services 20.3% Software & Technology Manufacturing 26.4% 10.1% Healthcare Consumer & Retail 17.6% 17.1% Investments No of companies Number of Investments 99 Numbe
Slide 10: IV – CD4
Cordish Dixon Private Equity Fund IV – CD4 For personal use only Underlying manager location Sector exposures As CD4 is early in the cycle, we expect a similarly diversified portfolio to the other funds in the series once the capital is drawn down. Investments No of companies Number of Investments
Slide 11: CD1 Performance
CD1 Performance For personal use only $3.00 $2.00 $1.98 $1.60 Distributions of 101.5 cents1 $1.00 $0.30 $0.10 $0.11 $0.18 $0.11 $0.14 $0.075 $0.00 Initial offer price Feb-2016 Jun-2016 Jun-2017 Nov-2017 May-2018 Aug-2018 Dec-2018 Current NTA per unit SINCE INCEPTION 3 MONTH 6 MONTH 1 YEAR 2 YEAR PA
Slide 12: CD2 Performance
CD2 Performance For personal use only $3.00 $2.42 $2.00 $1.60 Distributions of 61.0 cents1 $1.00 $0.23 $0.07 $0.08 $0.10 $0.04 $0.09 $0.00 Initial offer price Feb-2016 Jun-2016 Jun-2017 Nov-2017 May-2018 Dec-2018 Current NTA per unit SINCE INCEPTION 3 MONTH 6 MONTH 1 YEAR 2 YEAR PA 3 YEAR PA PA NTA
Slide 13: CD3 Performance
CD3 Performance For personal use only $3.00 $2.00 $1.60 $1.79 Distributions of 1.3 cents1 $1.00 $0.013 $0.00 Initial offer price Dec-2018 Current NTA per unit SINCE INCEPTION 3 MONTH 6 MONTH 1 YEAR 2 YEAR PA 3 YEAR PA PA NTA Return2 2.3% 7.2% 15.6% 10.4% n/a 5.3% Note: Past performance is not a reli
Slide 14: Key fund details
Key fund details For personal use only KEY FUND DETAILS FUND 1 FUND 2 FUND 3 FUND 4 ASX ticker CD1 CD2 CD3 - Inception August 2012 April 2013 July 2016 April 2018 Pre-tax NTA $1.981 $2.421 $1.791 $0.651 Post-tax NTA $1.961 $2.281 $1.771 Number of managers 8 12 13 11 Total underlying investments 96 1
Cordish Dixon Private Equity Fund Series — Investor Presentation (August 2019) on 6ix