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Performance Multiples Produced by Cleantech Funds

by Hayley Wong

  • 25 Nov 2011
  • PE

Preqin currently holds performance data for 219 funds with a focus on the clean technology industry. Using Performance Analyst’s Custom Benchmark module we can examine the median multiples produced by cleantech funds with a vintage between 2002 and 2010.

All such funds are above 1.00X except for vintage 2010 funds, which reports a multiple of 0.99X. It is important to remember that funds with recent vintages are still at the early stages of their fund life-cycle and consequently fund managers still have time to add value to their investments and for performance of the fund to change.

Within this specific benchmark, the highest median multiple produced is by vintage 2003 funds, which have 1.26X paid-in capital. Vintage 2003 funds with a focus on the cleantech industry have a median called up and distributed amount of 98.2% and 40.8% respectively, posting a median value of 82.2%.

We can also analyze the data within the customised benchmark further by looking at the median multiples produced by the main region focus of the funds. Vehicles with a focus on US cleantech investments report 1.07X of contributed capital, while Europe-focused funds generate a slightly lower 1.00X.

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