Top Performing Fund of Fund Managers - August 2012

by Anna Strumillo

  • 24 Aug 2012
  • PE

Preqin’s Performance Analyst holds net-to-LP performance data for over 6,000 funds, 760 of which are fund of funds. Using this data, Preqin can determine the most consistent performing fund of funds managers.

Preqin assigns quartile rankings based on both the multiple and IRR, taking into account the fund vintage, strategy and geographic focus. Our methodology allocates top quartile funds with a score of one, second quartile funds two, and so on. The list of top performing fund managers is restricted to GPs who have raised three or more fund of funds; furthermore the fund managers must be active and have raised at least one of these funds in the past six years. All fund managers are then ranked by their average score in order to reveal the most consistent performing managers.

Morgan Stanley Alternative Investment Partners currently tops the list of consistently performing fund of funds managers, with four funds in the top quartile and one fund in the second quartile.  Hong Kong-based Asia Alternatives Management is the only fund manager not based in either the US or Europe who appears on this list.  It currently has two out of its three ranked fund of funds achieving the top quartile ranking and its remaining fund is ranked in the second quartile, which gives the firm an average quartile ranking of 1.33. Denmark-based ATP Private Equity Partners and Swiss LGT Capital Partners also have an average quartile rank of 1.33.  Other well-known firms in this list include Adams Street Partners, which has 33 fund of funds vehicles assigned with a quartile ranking, 11 of which are ranked in the top quartile.

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