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Managed by Goodhart, the VPC Fund invested in established General Partners (“GPs”) of
private capital funds, targeting the small to low-mid GP market ($500m-$3bn AUM).
Having invested in a universe of 1000+ GPs that remains underserved by the market, VPC
structured attractive investments in high quality, valuable businesses that have strong collateral.
The VPC Fund is now closed to new investments.
20%+ gross IRR with
compelling risk profile
Vast and underserved investment universe of high quality GPs
GPs headquartered in
North America and Europe
where a perpetual equity stake
in the GP is acquired
where non-dilutive financing
is provided to the GP
HOW DOES VPC INVEST IN GPs?
GP FINANCING OVERVIEW
Redeemable Preferred Equity
These transactions finance predictable cash flows from specific Collateral Assets of a GP
(typically management fees, GP commitments and carried interests of existing Funds).
GPs favour non-dilutive financing where VPC's interest is redeemed upon
the achievement of a specified IRR and MOIC return hurdle.
Senior right to cash flows
from Collateral Assets
high quality collateral
Self-liquidating with exits
in the short to mid-term
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