NZVCA calls for performance data
Forms partnership to provide private equity and venture capital benchmark information
Tuesday, February 07 2012 || News || BY Unlimited
NZVCA has teamed with Cambridge, a global independent research and investment advice company, to help build New Zealand private equity and venture capital statistics which it will aggregate and pass on to its members.
“The NZVCA acknowledges that credible fund level industry performance data is important to institutional quality investors," says chair Kerry McIntosh. "We urge all GPs to participate in this initiative through the provision of quarterly performance data to Cambridge. We acknowledge that this project has a long timeframe but believe it is the interests of the whole industry to provide robust benchmark performance data.”
Cambridge sources its PE and VC benchmarks from the financial information in its proprietary database of institutional quality funds, one of the largest such data repositories in the world.
This data has been needed for a long time, nice to see the NZVCA finally stepping up and looking to make the industry more accountable.
Interesting to note that in the NZVIF annual report for June 2010 they provided this data - they had returned -8.3%pa IRR since they started. This was updated in the SOI so at December 2010 the result was -9.5%pa (internmational comparables were around -1%)
Interesting to note this data is not provided in the June 2011, why when the industry is saying this data is required - to help attract investors are NZVIF not publishing their numbers - cannot be confidential as they have done it in the past.
Posted by Anonymous at 01:23 on February 7, 2012
Good idea - but will it ever happen? About as likely as turkeys voting for Christmas.
I suspect any performance data released by NZ VCs would amount to the longest suicide note in history.
Posted by Anonymous Bosch at 01:30 on February 8, 2012
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