Oregon $4bn Up Investing in PE Instead of Stock Market: Slideshow

As one of the first public pension funds to commit to private equity, Oregon continues singing the praises of the asset class.

In an article for the Oregonian Oregon Investment Council state treasurer Ted Wheeler and chair Keith Larson stated private equity has been a top performer in the Oregon Public Employees Retirement Fund since 1981.

And the article stressed that had Oregon not been invested in private equity over the past decade and had backed the stock market instead – the pension fund would have lost out on an estimated $4 billion, that is $400 million less in earnings per year.

For the past decade, the time-weighted annual return for Oregon’s private equity investments was 11.35%, versus 4.71% for the S&P 500.

Oregon is an investor in funds managed by private equity veterans such as Blackstone, KKR and TPG Capital.

This week’s slideshow takes a look at the top performers in Oregon’s portfolio contributing to the pension fund’s private equity performance to date.

The top spot is taken by a global 1996 vintage US-based buyout fund, but is closely followed by a US-based venture fund and another US-based venture fund coming in third.

Oregon has a strong exposure to European buyouts with two European offerings featuring in this top ten. This year, Oregon has also made a $150,400,000 commitment to European powerhouse Apax’s Apax Europe VIII fund.

Scroll down to find out more about Oregon’s star performers.

Image of speedometer courtesy of shutterstock

[slideshow]

[slide title="10. First Reserve Fund X "]

Vintage Year: 2004

Oregon Commitment: $100,000,000

Multiple: 1.86x

IRR: 37.20%

[slide title="9. KKR 1982 Fund"]

Vintage Year: 1983

Oregon Commitment: $25,000,000

Multiple: 3.30x

IRR: 39.70%

[slide title="8. CVC European Equity Partners III"]

Vintage Year: 2001

Oregon Commitment: $150,000,000

Multiple: 2.89x

IRR: 41.30%

[slide title="7. Union Square Ventures 2008"]

Vintage Year: 2008

Oregon Commitment: $25,000,000

Multiple: 1.84x

IRR: 41.50%

[slide title="6. Doughty Hanson Fund II"]

Vintage Year: 1995

Oregon Commitment: $50,000,000

Multiple: 2.10x

IRR: 45.60%

[slide title="5. OCM Opportunities Fund IVb"]

Vintage Year: 2002

Oregon Commitment: $75,000,000

Multiple: 2.25x

IRR: 46.50%

[slide title="4. First Reserve Fund IX"]

Vintage Year: 2001

Oregon Commitment: $75,000,000

Multiple: 3.00x

IRR: 48.1%

[slide title="3. Olympic Venture Partners IV"]

Vintage Year: 1997

Oregon Commitment: $14,000,000

Multiple: 2.62x

IRR: 63.80%

[slide title="2. Union Square Ventures 2004"]

Vintage Year: 2004

Oregon Commitment: $25,000,000

Multiple: 10.33x

IRR: 75.40%

[slide title="1. Providence Equity Partners"]

Vintage Year: 1996

Oregon Commitment: $75,000,000

Multiple: 3.32x

IRR: 78.40%

[/slideshow]

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