Hermes Private Equity has been investing globally in primary partnerships since the 1990s, and has established itself as one of the leading investors with over £1.5 billion assets under management in private equity funds and over £400 million assets under management in infrastructure funds and direct deals. Over the years we have established strong links with the private equity community as a significant long term investor who provides access to superior groups in the following sub asset classes: growth capital; growth buyouts; small to large buyouts; secondaries; mezzanine and infrastructure.
We annually commit up to £400 million to primary funds from venture capital to large buyouts predominantly in the US, Europe and Asia. We also have an active co-investment programme. Ultimately, we seek to provide maximum flexibility to our clients, with the option of selecting the global program or choosing geographical sub sets from the US, Europe or Asia.
That's what we do explained in a very practical manner. But there's more to us than just the mechanics of business; what's more important is how we do it on a very human level.
We have a set of values that we measure ourselves against, and by which we like to do business. There's nothing fancy to them but we seek to act with intellectual integrity, transparency and professionalism. We also see ourselves as energetic. Our energy might not be particularly loud but we are driven to make a return for our clients, and so earn their long-term respect and trust.
We have the stamina to stay the course, applying what we call intelligent investing which is only achieved by working together to harness the diverse talent within our team. It is our responsibility to push ourselves further than perhaps anyone realises but also to be disciplined enough to know when to stop.
Hermes Private Equity is owned by Hermes Fund Managers, one of the most established and largest institutional fund managers in the UK with over £21.6 billion under management. Hermes is owned by its largest investor, the BT Pension Scheme.
Since 2004, fund investments have been made through annual partnerships to provide clients with flexibility. Each annual fund has between 12 to 20 primary partnerships, and is diversified by geography, time and sub asset class. A portion of each year's commitment is to those sectors where market conditions are indicative of higher returns, and over a period of vintage years clients have achieved a diversified portfolio.
Unless otherwise stated all figures as at 30 September 2009. NB HPE defines assets under management (AUM) as net asset value (NAV) plus unfunded commitments.
