Managed by Goodhart, the Volunteer Park Capital Fund SCSp ("the Fund") focuses primarily on acquiring interests in the General Partners (“GPs”) of Private Equity and Debt funds. It may also acquire interests in the GPs of infrastructure, property and other real-asset strategies.
The Fund had its initial close on 1st August 2019.
OBJECTIVE
15-20% per annum net returns with low risk of underperformance
STRATEGY
Acquire minority ownership interests in 8-12 high quality boutique private capital managers
GEOGRAPHY
Target managers headquartered in either North America and Europe
THE PORTFOLIO
HIGHLIGHTS
Growth Capital
The Fund provides GPs with the capital they require to grow. A large proportion of capital is used as "GP Commitment" for imminent fund launches. Some may also be used to invest in additional resources required to grow the business.
Strong Alignment
The majority of capital invested by the Fund remains in the GPs. The objective is to support growth, not to provide exit capital for the founders. We believe this is key to ensuring strong alignment of interests between the Fund and the management teams of the GPs.
Minority Interests
We believe boutiques should be controlled by management, not external shareholders. As such the Fund is only ever a minority shareholder.
Middle-Market Opportunity
The Fund focuses on middle-market GPs with typically $500m to $1.5bn under management. We believe the growth capital requirements of these GPs are under-served by the market.
Effective Partner
Goodhart is an attractive partner for the "right" GPs. We are long term investors with a genuine focus on making money for our clients. Goodhart is majority owned by management, with strong support from a large family office. Where appropriate Goodhart is able to support GPs across a wide-range of areas, including access to our fund platform and marketing capabilities.
