Latest News

26 March 2024

We are pleased to inform you that the final distribution by Vantage Private Equity Growth Limited (VPEG) will be paid to all shareholders on Wednesday, 27 March 2024. 

We appreciate your continued patience and cooperation as we awaited the finalisation of the liquidation of VPEG by the Liquidator, David Hurst of Mackay Goodwin.  

The final distribution amount that will be paid to all shareholders, equates to approximately 4.61 cents per share (rounded). 

Following the payment of this final distribution, the total Distributed to Paid In (DPI) multiple, including franking credits, paid and distributed to VPEG shareholders since inception, will be 1.67x invested capital (rounded). 

On 27 March 2024, you should receive this distribution payment to your nominated bank account (or by cheque, following that date, for those who requested cheque payments) and an email (or mail where elected) notification from the VPEG registry, Computershare. A statement will be attached in the email (or by mail ) containing the full details of the final distribution. 

Following the payment of this final distribution your shares in VPEG will be cancelled and the VPEG unlisted public company entity will be deregistered with ASIC.  

We would like to thank you once again for your investment in VPEG and trust that your investment in VPEG satisfied your original investment objectives. 

Should you have any questions or require further information about VPEG please visit www.vpeg.info or email Vantage Investor Services team at [email protected]

18 December 2023

Our Liquidator has now obtained ATO’s clearance and with this we can now proceed with the distribution process to creditors and, subsequently, to shareholders.

As of 25 May 2023, our final monthly NAV pricing update date, there is approximately $1.6 million available for distribution to shareholders. Since 25 May 2023, VPEG has incurred various necessary expenses, including registry fees, liquidation fees, and other associated costs. Despite these expenditures, the amount remains substantial and not significantly less than $1.6 million.

We are working closely with our liquidators and registry to ensure that the final distribution is expected to be paid to shareholders by late-February 2024.

Should you have any questions or require further clarifications, please feel free to reach out to us at  [email protected].

26 May 2023

We are pleased to inform you that all resolutions tabled to the Extraordinary General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on Thursday, 25th May 2023 have been successfully passed, marking the formal commencement of the liquidation process for the entity. 

The liquidation process is underway upon appointment of the liquidator and it is anticipated to be finalised in the next 3 months from the date of the Extraordinary General Meeting, subject to regulatory clearance. Upon obtaining all required approvals, the liquidator will instruct the registry to process the final distribution of the Company’s assets to the shareholders.

We appreciate your continued support and participation throughout this process. Should you have any further inquiries, please do not hesitate to contact [email protected].

4 May 2023

Notice is hereby given that an Extraordinary General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held as a virtual meeting at 10:30am AEST, Thursday 25th May 2023 for the purpose of transacting the businesses set out below:

Resolution 1 & 2 – Members’ Voluntary Liquidation of the Company (Special Resolutions)
To consider and, if thought fit, to pass the following resolution as Special resolutions:
“That the Company be wound up voluntarily”
And
“That authority be and is hereby given to the Liquidator to distribute and dispose of the assets of the company by set off, in specie, or by any manner whatsoever which, in their absolute discretion, will expedite the distribution among Members of the company according to their respective rights and interests.”

Resolution 3 – Appointment of Liquidator (Ordinary resolution)
Subject to Resolutions 1 and 2 being passed, to consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That David Hurst of Mackay Goodwin, be appointed Liquidator for the purposes of winding up”.

Resolution 4 – Remuneration of Liquidator (Ordinary resolution)
Subject to Resolution 3 being passed, to consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That the remuneration of the Liquidator from the date of appointment of the Liquidator to the completion of the Liquidation be approved up to a maximum amount of $10,000 plus GST and disbursements, calculated in accordance with the Mackay Goodwin hourly rates (as detailed in a Remuneration Report pursuant to Section 495 of the Corporations Act 2001) and as varied from time to time with such annual increases (if any) to be no greater than 10% of the base rate, and that the Liquidator be authorised to draw the remuneration on a monthly basis or as required.”

Resolution 5 – Destruction of the books and records of the Company (Ordinary resolution)
Subject to Resolution 3 being passed, to consider and, if thought fit, to pass the following resolution as an ordinary resolution:
“That subject to obtaining the approval from the Australian Securities and Investments Commission pursuant to the Corporations Act 2001, the books and records of the company and of the Liquidator be disposed of by the Liquidator six months after dissolution of the company.”

For further details please download the Agenda and Explanatory Memorandum.

If would like to join the virtual Extraordinary General Meeting and vote on the resolutions being tabled, please fill the Registration Form and you will receive video conference details by way of an invitation close to the meeting date.

If you have any questions, do not hesitate to contact [email protected].

8 November 2022

Notice of VPEG Annual General Meeting

The 2022 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held via video conference along with the Vantage Private Equity Growth Funds VPEG2, VPEG3, VPEG4 and VPEG5 commencing at 10:00am AEDST, Wednesday 30th November 2022, broadcast from Level 39, Aurora Place, 88 Phillip Street, Sydney NSW 2000, Australia for the purpose of transacting the business set out below.

If would like to join the video conference for this year’s AGM, please email your details to [email protected] and you will receive video conference details by way of an invitation.

Performance Highlights from VPEG’s 2022 Annual Report;

  • One successful trade sale of an underlying portfolio company was completed from the investment portfolio during the period, increasing total exits completed to 47
  • Total Distributions received from underlying funds of $0.247m
  • Net Assets remaining in the Company totalled $2.10m as at 30 June 2022.

View VPEG’s 2022 Annual Report >>

5 November 2021

Notice of VPEG Annual General Meeting

The 2021 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held via video conference at 10:00am AEDST, Wednesday 1 December 2021 broadcast from L17, 8 Chifley Square, Sydney NSW 2000.

If would like to join the video conference for this year’s AGM, please email your details to [email protected] and you will receive video conference details by way of an invitation.

Performance Highlights from VPEG’s 2021 Annual Report;

  • One successful IPO and ASX listing of an underlying portfolio company was completed from the investment portfolio during the period, increasing total exits completed to 46
  • In addition, the completion of the further sell-down in shares of the residual holding in two previously exited and now ASX listed companies were successfully executed across the financial year
  • Total Distributions received from underlying funds of $1.363m
  • Total Income of $1.364m
  • Net Profit after Tax of $1.003m
  • Total Return of Capital paid to VPEG Shareholders during FY21 of $1.08m.

21 August 2021

Broncos Look to Buy into Supercars
 
The Broncos have confirmed they are exploring the prospect of buying a potential $60 million stake in the Supercars Championship as the NRL’s richest club looks to diversify its iconic sporting brand.
 
The Broncos are one of the most recognisable brands in Australian sport and the NRL financial powerhouse is looking to shift sporting gears by going beyond the Steeden to embrace Supercars.
 
Broncos bosses have begun due diligence on buying a stake in the Supercars Championship as part of a two-pronged consortium that includes five-time Moto GP champion Mick Doohan.
 
Documents lodged with the Australian Securities Exchange show the Broncos had $19.9 million in cash reserves on June 30 this year, making the NRL glamour club one of Australia’s most profitable sporting franchises.
 
Now the Broncos are keen to spread their investment wings in Supercars via the NRL club’s majority owner News Corp, publishers of various mastheads including The Courier-Mail and The Daily Telegraph.
 
Broncos chairman and stockbroking mogul Karl Morris is a key player in negotiations.
 
Private-equity firm Archer Capital owns a 65 per cent stake in Supercars, with the remaining 35 per cent belonging to the Championship’s teams.
 
It is understood Archer Capital are seeking $60 million to offload their share, piquing the interest of News Corp via their sporting arm the Broncos, who have joined forces with a consortium comprising Peter Adderton, Paul Morris, Pete Smith, Doohan and Alan Gow.
 
Speculation about Brisbane’s involvement in a Supercars venture has gathered steam in the past week, with the Broncos breaking their silence to confirm their interest in Australia’s premier motor-racing championship.
 
“We are exploring an investment opportunity,” a Broncos spokesman said.
 
“We are currently in a non-binding, confidential and indicative stage of the process and accordingly are not in a position to make any further comment at this point in time.”
 
According to ASX documents, Brisbane have recorded a half-year before-tax profit of $3.17 million, up from a meagre $20,000 in the corresponding period last year following the temporary suspension of the 2020 NRL season.
 
The Broncos have fielded a number of investment opportunities in recent months, but do not have a history of venturing outside of their rugby league charter.
 
The Broncos are rated an outside hope among the three consortia bidding for Supercars ownership.
 
The Australian Racing Group and the Mark Skaife/TLA Worldwide partnership are considered the two frontrunning bids, with both meeting the $60 million price tag desired by Archer Capital for its majority share.
 
Archer Capital paid $180 million for their 65 per cent controlling stake in 2011.
 
It is understood the Adderton consortium proposed an entire buyout, including the Supercars teams, only for Archer to knock back their investment package offer.
 
News Corp, via the Broncos, subsequently reached out to a member of the Adderton group to broker a partnership, but is understood the NRL club is only a support act, as opposed to the chief spearhead of the beefed-up bid.
 
The Broncos will learn of their Supercars investment fate before this year‘s Bathurst 1000, which is slated for November 4-7, a month after the 2021 NRL grand final.
 
Source; The Australian, 21-22 August 2021, “Broncos look to buy into Supercars”, Peter Badel”
 
20 August 2021

VPEG Quarterly Report for 3 months ending 30 June 2021

Special points of Interest;

Catalyst Buyout Fund 2 sells down a further 4.5 million shares of previously exited now ASX listed portfolio company Dusk (ASX:DSK) at $3.60 per share, a 80% increase against Dusk’s listing price of $2.00

Catalyst Buyout Fund 2 portfolio company Vesco continues to improve operating margins as a result of the company’s strategic investment to manufacture product components in Vesco’s manufacturing facilities

Supercars viewership increases 17% for the first five rounds of the 2021 season, when compared with like-for-like events in 2020, providing a robust platform for Archer Capital Fund 4 to exit Supercars over the next three to six months

View or Download a copy of VPEG June 2021 Quarterly Report

28 May 2021

VPEG Quarterly Report for 3 months ending 31 March 2021

Special points of Interest;

Catalyst Buyout Fund 2 sells down 1.5 million shares of previously exited now ASX listed portfolio company Dusk (ASX:DSK) at a total value of $3.00 per share, a 50% increase against Dusk’s listing price of $2.00

VPEG pays $646,715 ($0.018 / share) Return of Capital distribution to all VPEG shareholders on 29 March 2021

Supercars TV viewership through Fox Sports and Free-to-Air provider Channel Seven deliver significant growth in audience ratings across the quarter, with all Supercars programming up 32% year on year

View or Download a copy of VPEG March 2021 Quarterly Report

15 March 2021

March 2021 – Return of Capital Distribution Resolution

At the Annual General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on 15 March 2021, 100% of Shareholders present at the meeting in person or by proxy (representing 39.0% of all shares on issue) voted in favour of the resolution for an equal share capital reduction of AU$0.018 per ordinary share to be paid by the Company to each holder of ordinary shares, on 29th of March 2021.

19 February 2021

Notice is hereby given that a General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 10:00am AEDST, Monday 15 March 2021 at Level 29, Chifley Tower, 2 Chifley Square, Sydney NSW 2000 for the purpose of transacting the business set out below;

1.    Resolution 1 – Equal Share Capital Reduction

“To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

 To approve and ratify the following equal share capital reduction to be undertaken by the Company:

 An equal share capital reduction of AU$0.018 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 29th of March 2021;

For further details please click on the button below to download the Agenda and Explanatory Memorandum

18 February 2021

VPEG Quarterly Report for 3 months ending 31 December 2020

Special Points of Interest;

Catalyst Buyout Fund 2 successfully exits underlying investment Dusk Group Limited via an IPO and ASX listing with Catalyst selling down 60% of the funds pre IPO shareholding upon listing

VPEG pays $442,163 ($0.0125 / share) Return of Capital distribution to all VPEG shareholders on 14 December 2020

Strong earnings & value growth across VPEG’s remaining underlying portfolio delivers a 21.4% total shareholder return across the quarter

View or Download a copy of VPEG December 2020 Quarterly Report

25 November 2020

2020 – Return of Capital Distribution Resolution

At the Annual General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on 25 November 2020, 100% of Shareholders present at the meeting in person or by proxy (representing 39.0% of all shares on issue) voted in favour of the resolution for an equal share capital reduction of AU$0.0125 per ordinary share to be paid by the Company to each holder of ordinary shares, on 14th of December 2020.

2 November 2020

The 2020 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held via video conference at 10:00am AEDST, Wednesday 25 November 2020 broadcast from L17, 8 Chifley Square, Sydney NSW 2000.

If would like to join the video conference for this year’s AGM, please email your details to [email protected] and you will receive video conference details by way of an invitation.

Agenda

1. Financial statements and reports. To receive and consider:

(a) the financial statements;
(b) the directors’ report; and
(c) the auditor’s report of the Company for the year ended 30 June 2020

2. Outlook for 2021

3. Resolution 1 – Equal Share Capital Reduction To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company: An equal share capital reduction of AU$0.0125 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 14th of December 2020;

For further details please click on the button below to download the Agenda and Explanatory Memorandum

Download a copy of the VPEG 2020 Annual Report

28 August 2020

VPEG Quarterly Report for 3 months ending 30 June 2020

Advent V contracts to sell their remaining 11.6% shareholding in ASX listed Pro-Pac Packaging Group, with the sale completed in early July 2020, netting $13 million in proceeds

Catalyst Buyout Fund 2 commences preparations for the IPO of Dusk, following its record financial performance for FY20

Three portfolio companies representing 90% of VPEG’s NAV have reported that there will be no impact to their financial performance as a result of the Victorian Government’s recently imposed COVID-19 restrictions on that State

View or Download a copy of VPEG June 2020 Quarterly Report

19 May 2020

VPEG Quarterly Report for 3 months ending 31 March 2020

Catalyst Buyout Fund 2 sell their remaining shareholding in ASX listed Adairs via a Block Trade at $2.57 / share on 21 February 2020, with VPEG’s share of the sale proceeds received during March 2020

VPEG’s Board & Shareholders approve a Return of Capital distribution of $799,431 (2.26c / share) with payment made to all VPEG Shareholders during April 2020

A majority of VPEG’s underlying portfolio companies have reported a net benefit or a low impact to their revenues as a result of the current COVID-19 operating environment

View or Download a copy of VPEG March 2020 Quarterly Report

14 April 2020

COVID-19 VPEG Portfolio Impact

The current environment around COVID-19 and restrictions imposed by Government’s on the operations of businesses across the economy continues to evolve daily. As such, VPEG’s management continues to monitor all underlying company investments through active discussions with VPEG’s remaining underlying private equity fund managers on an ongoing basis. The following points provide a summary overview of the analysed impact to VPEG’s remaining underlying portfolio;

VPEG has 6 underlying company investments remaining, diversified across a range of industry sectors and geographic regions within Australia, all of which are impacted in different ways by COVID-19,

4 portfolio companies representing 59.6% of VPEG’s Net Asset Value (NAV) operate Essential Service businesses or provide a majority of their products and services to Essential Service businesses as defined under current Australian and New Zealand Government COVID-19 business definitions,

In addition, these 4 portfolio companies have reported either a net benefit or a low impact to their financial performance as a result of each Government’s imposed COVID-19 restrictions on the economy.

VPEG’s portfolio of investments generally have a low to moderate level of gearing, with a majority of companies still generating cashflows and have sufficient cash reserves to satisfy their financial obligations, should a prolonged economic downturn persist.

Download VPEG’s COVID-19 Portfolio Update here

25 March 2020

2020 – Return of Capital Distribution Resolution

At the General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on 25 March 2020, 100% of Shareholders present at the meeting in person or by proxy (representing 39.0% of all shares on issue) voted in favour of the resolution for an equal share capital reduction of AU$0.0226 per ordinary share to be paid by the Company to each holder of ordinary shares, on 9th of April 2020.

18 March 2020

Vantage Funds Update – COVID-19

Vantage Asset Management is closely monitoring the developing COVID-19 situation and has implemented responsible measures to ensure the health and safety of our employees, business partners, service providers, clients and investors. In addition, the protection of the value of all of Vantage’s Funds underlying investments, is one of our highest priorities.

Read More >>

3 March 2020

Notice of General Meeting

A General Meeting for Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 10am AEST, Wednesday 25 March 2020 at L25, 88 Phillip Street, Sydney NSW 2000

The purpose of the meeting is to transact the business set out below;

  1. Resolution 1 – Equal Share Capital Reduction “To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company: An equal share capital reduction of AU$0.0226 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 10th of April 2020.”

The meeting notification, Explanatory Memorandum and proxy voting forms for the meeting can be downloaded here; VPEG General Meeting 25 March 2020 – Notification & Proxy Forms

2 March 2020

Catalyst Buyout Fund 2 sell their final 11% shareholding in ASX listed Adairs via a Block Trade following the release of Adairs first half FY20 results.

On 21 February 2020, Adairs Limited (ASX: ADH) provided shareholders with the company results for the first half of FY20. During the period 1 July 2019 to 31 December 2019 the company delivered record levels of sales and profitability, accompanied with a number of key strategic initiatives including the acquisition of Mocka (December 2019) and the finalisation of the company’s domestic supply chain strategy.

The market responded positively to this news, with the ADH Share Price increasing by 8% to $2.59/share. With the results well received by the market, Catalyst Buyout Fund 2 (CBF2) subsequently sold their remaining 11% shareholding in Adairs via a block trade, through JP Morgan Chase & Co, following market close on Friday 21 February 2020, at an agreed price of $2.57/share, which represented a 0.8% discount to the end of day share price.

Settlement of the share sale was completed on Wednesday 26 February 2020 completing the exit of CBF2’s investment in Adairs, which has delivered a top quartile return for CBF2 investors, including VPEG.

Following the sale, CBF2 distributed a total of $800,000 to VPEG on 2 March 2020 for its share of the investment proceeds. As a result, all VPEG shareholders have today been notified of a General Meeting to be held on 25 March 2020 to vote on a Return of Capital distribution of this $800,000 ($0.0226 per share) to be paid to all VPEG Shareholders on or about the 10th of April 2020.

13 February 2020

VPEG Quarterly Report for 3 months ending 31 December 2019

Special points of interest:

VPEG pays $707,467 ($0.02 / share) Return of Capital distribution to all VPEG shareholders on 16 December 2019.

Adairs Share Price increases 33% across the December 2019 quarter, following the acquisition of Mocka, an online retailer of furniture and home furnishing products in New Zealand.

With 44 exits completed from the underlying portfolio, VPEG ultimately held interests in 5 remaining underlying company investments with 3 residual holdings of previously exited companies at 31 December 2019.

View or Download a copy of VPEG December 2019 Quarterly Report

25 November 2019

VPEG Quarterly Report for 3 months ending 30 September 2019

Special points of interest:

Archer Capital Fund 4 completes the sale of Cravebale Brands to PAG Asia Capital, with VPEG’s share of the proceeds received during August 2019

As a result of this exit, the directors of VPEG have recommended a further Return of Capital distribution of $707,461 (2.0c / share) be paid to Shareholders during the December 2019 quarter.

With 44 exits completed from the underlying portfolio, VPEG ultimately held interests in 5 remaining underlying company investments with 3 residual holdings or previously exited companies at 30 September 2019.

View or Download a copy of VPEG September 2019 Quarterly Report

6 November 2019

Notice of Annual General Meeting

The 2019 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held at 10:00am AEDST, Thursday 28 November 2018 at L17, 8 Chifley Square, Sydney NSW 2000

Agenda

1. Financial statements and reports. To receive and consider:

(a) the financial statements;
(b) the directors’ report; and
(c) the auditor’s report of the Company for the year ended 30 June 2019

2. Outlook for 2020

3. Resolution 1 – Equal Share Capital Reduction To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company: An equal share capital reduction of AU$0.02 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 15th of December 2019;

Further details are provided in the Agenda and Explanatory Memorandum

Download a copy of the VPEG 2019 Annual Report

18 October 2019

Highly Active September 2019 Quarter for VPEG’s Underlying Portfolio

The September 2019 quarter has been a highly active period for Vantage Fund’s and its underlying Private Equity funds.

VPEG’s underlying portfolio continues to be divested with an additional exit being completed during July 2019. PAG Asia Capital, the private equity buyout arm of investment firm PAG, acquired 100% of Craveable Brands from Archer Capital and minority shareholders for approximately $480 million. Craveable is the largest Australian-owned operator of quick service restaurants with over 580 stores across Australia under the Oporto, Red Rooster and Chicken Treat brands. It also has a growing international network, with stores in New Zealand, Singapore and Sri Lanka and soon to open in Vietnam and a number of countries in the Middle East.

During Archer’s ownership of Craveable Brands, this quick service restaurant model grew to over 580 restaurants across Australia, New Zealand and Asia, employing more than 12,500 staff and serving over 150,000 customers per day. Craveable Brands has extensive intellectual property, focusing on restaurant operations, supply chain, franchising, IT, marketing, store design and construction, food innovation, and customer satisfaction.

This recent divestment brings total exits from VPEG’s underlying portfolio to 43, with 6 underlying companies remaining in the portfolio, across four underlying funds.

View VPEG’s Underlying Private Equity Portfolio

22 August 2019

VPEG Quarterly Report for 3 months ending 30 June 2019

Special points of interest:

Archer Capital Fund 4 announces the sale of portfolio company Cravebale Brands to PAG Asia Capital, with VPEG’s share of the proceeds received during August 2019

With 42 exits completed from the underlying portfolio, VPEG ultimately held interests in 7 underlying company investments and 3 residual investments at 30 June 2019

VPEG4 now open for investment with a rebate of the first year’s management fees for existing Vantage fund investors applying to invest prior to 30 September 2019

View or Download a copy of VPEG June 2019 Quarterly Report

22 May 2019

VPEG Quarterly Report for 3 months ending 31 March 2019

Special points of interest:

Advent V completes the sale of portfolio company, Trivantage Group, by way of management buyout.

Catalyst Buyout Fund 2 investee, Vesco Foods, wins a major food supply contract with one of Australia’s largest grocery chains.

With 42 exits completed from the underlying portfolio, VPEG ultimately held interests in 7 underlying company investments and 3 residual investments at 31 March 2019.

View or Download a copy of VPEG March 2019 Quarterly Report

15 February 2019

VPEG Quarterly Report for the 3 months ending 31 December 2018

Special points of interest:

–  VPEG pays $1,061,191 ($0.03 per share) in distributions to Shareholders during December 2018

–  Advent V announces the sale investee company Trivantage Group by management buyout, with the exit completed during January 2019

–  VPEG’s underlying fund managers report that the continuing positive exit environment will lead to the final wind down of VPEG’s remaining portfolio across 2019

View or download a copy of the VPEG December 2018 Quarterly Report

15 November 2018

VPEG Quarterly Report for the 3 months ending 30 September 2018

Special points of interest:

–   Next Capital Fund II Completes the Sale of its final portfolio company, Discovery Onslow.

–   Catalyst Buyout Fund 2 sells 20 million shares in previously exited and now ASX listed, Adairs, delivering a strong distribution to VPEG.

View or download a copy of the VPEG September 2018 Quarterly Report

6 November 2018

Notice of Annual General Meeting

The 2018 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held at 10am AEDST, Thursday 29 November 2018 at L17, 8 Chifley Square, Sydney NSW 2000

Agenda

1. Financial statements and reports. To receive and consider:

(a) the financial statements;
(b) the directors’ report; and
(c) the auditor’s report of the Company for the year ended 30 June 2018

2. Outlook for 2019

3. Resolution 1 – Equal Share Capital Reduction“To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company: An equal share capital reduction of AU$0.03 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 15th of December 2018;

Further details are provided in the Agenda and Explanatory Memorandum

Download a copy of the VPEG 2018 Annual Report

15 August 2018 

VPEG Quarterly Report for the 3 months ending 30 June 2018

Special points of interest:

–      Next Capital II sells Onsite Rental Group and announces the sale of its final portfolio company, Discovery Onslow.

–      Advent V sells 59.4 million shares in ASX listed Pro-Pac Packaging Limited, following a rally in its share price to the issue price received following the merger with portfolio company Integrated Packaging Group in November 2017.

 –      Catalyst Buyout Fund 2 sells a majority of their remaining shares in ASX listed Adairs, following a strong uplift in its share price to near its IPO issue price.

 –      VPEG distributes $2,964,439 (8.38c / share) to shareholders during the quarter, as a result of underlying portfolio company exits and share sell downs across the first half of 2018.

View or download a copy of the VPEG June 2018 Quarterly Report

29 May 2018

2018 – Return of Capital Distribution Resolution

At the General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on 29 May 2018, 100% of Shareholders present at the meeting in person or by proxy (representing 39.0% of all shares on issue) voted in favour of the resolution for an equal share capital reduction of AU$0.0414 per ordinary share to be paid by the Company to each holder of ordinary shares, on 15th of June 2018.

15 May 2018 

VPEG Quarterly Report for the 3 months ending 31 March 2018

Special points of interest:

–      Three exits completed from VPEG’s underlying portfolio during the quarter, leading to the resolution to distribute $1,499,994 to Shareholders in April 2018.

–      Crescent Capital Partners III completes the sale of Steel-Line Garage Doors to Japanese owned, Bunka Shutter

–      With 38 exits completed from the underlying portfolio, VPEG ultimately held interests in 11 remaining underlying company investments at 31 March 2018.

View or download a copy of the VPEG March 2018 Quarterly Report 

3 May 2018

A meeting for shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 11.00am AEST, Tuesday 29 May 2018 at L25, 88 Phillip Street, Sydney NSW 2000

The purpose of the meeting is to transact the business set out below;

1. Resolution 1 – Equal Share Capital Reduction “To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the;

Company: An equal share capital reduction of AU$0.0414 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 15th of June 2018;

The meeting notification, Explanatory Memorandum and proxy voting forms for the meeting can be downloaded here: VPEG General Meeting 29May 2018 – Notification & Proxy Forms

5 April 2018

2018 – Return of Capital Distribution Resolution

At the General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on 5 April 2018, 100% of Shareholders present at the meeting in person or by proxy (representing 38.0% of all shares on issue) voted in favour of the resolution for an equal share capital reduction of AU$0.042405 per ordinary share to be paid by the Company to each holder of ordinary shares, on 23 April 2018.

12 March 2018

A General Meeting for Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 11:30am AEST, Thursday 5 April 2018 at L25, 88 Phillip Street, Sydney NSW 2000

The purpose of the meeting is to transact the business set out below;

1. Resolution 1 – Equal Share Capital Reduction  “To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the

Company: An equal share capital reduction of AU$0.042405 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about 23 April 2018;

The meeting notification, Explanatory Memorandum and proxy voting forms for the meeting can be downloaded here; VPEG General Meeting 5 April 2018 – Notification & Proxy Forms

23 February 2018

VPEG Quarterly Report for the 3 months ending 31 December 2017

Special points of interest:

–      Four Exits completed from VPEG’s underlying portfolio during the quarter, leading to the payment of $2,865,217 in distributions to Shareholders.

–      Archer Capital Fund 4 sells Brownes Dairy to a consortium led by Shanghai Ground Food Tech Co. Ltd.

–      Crescent Capital Partners III completes agreement to sell GroundProbe to ASX listed Orica for an Enterprise Value of $205m.

–      With 35 exits completed from the underlying portfolio, VPEG ultimately held interests in 14 remaining underlying company investments at 31 December 2017.

View or download a copy of the VPEG December Quarterly Report 2017

21 November 2017

Notice of General Meeting

A General Meeting for Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 2pm AEST, Wednesday 13 December 2017 at L25, 88 Phillip Street, Sydney NSW 2000

The purpose of the meeting is to transact the business set out below;

  1. Resolution 1 – Equal Share Capital Reduction “To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company: An equal share capital reduction of AU$0.037 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 28th of December 2017;”

The meeting notification, Explanatory Memorandum and proxy voting forms for the meeting can be downloaded here; VPEG General Meeting 13 December 2017 – Notification & Proxy Forms

31 October 2017

Notice of Annual General Meeting

The 2017 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held at 10am AEDST, Tuesday 21 November 2017 at L17, 8 Chifley Square, Sydney NSW 2000

Performance Highlights from VPEG’s 2017 Annual Report;

– Five follow on investments completed into existing portfolio companies

– Three exits completed from the underlying investment portfolio, delivering VPEG a weighted average 3.0X original 
cost of investment into those companies

– Total Income of $3.96m, up 57% over the $2.52m received in FY16

– Net Profit after Tax of $1.78m up 65% over the $1.08m Profit of FY16

– Total Distributions received from underlying funds of $4.31m

– Total Return of Capital received $396k

– Total Cash Distributions paid to Shareholders during FY17 of 17.7c per share plus 3.2c per share in franking credits. Distributions consisted of;

– Fully franked dividend distribution of 7.5c per share paid in November 2016

– Return of Capital distributions of 10.2c per share consisting of 3.7c per share paid in December 2016 and 6.5c per share paid in June 2017

– A further fully franked dividend distribution of 4.42c per share, to be paid to Shareholders during November 2017, from retained earnings at 30 June 2017

22 August 2017

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 30 June 2017

Special Points of Interest

– Advent 6 exits investee company Orionstone, following the successful recapitalisation and merger with ASX listed Emeco Holdings Limited and Andy’s Earthmoving.

– VPEG distributes a 6.5c per share Return of Capital to all Shareholders following approval at the General Meeting held on 6 June 2017.

– Across the 12 months ended 30 June 2017, VPEG Shareholders received total distributions of $20,896 for each 100,0000 shares held.

View a copy of the VPEG June 2017 Quarterly Report

22 May 2017

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 31 March 2017

Special Points of Interest;

–  Equity Partners 3, sells leading home ventilation systems provider, E-Co Products Group (HRV) to NZX Listed, Vector Limited, delivering a strong top quartile return to EP3 investors including VPEG.

–  VPEG’s Board approves a 6.5c per Share Return of Capital following the receipt of distributions from the exit of HRV.

–  Payment of a Return of Capital will be made to all Shareholders’ prior to 30 June 2017, subject to approval of VPEG Shareholders at a General Meeting to be held on 6 June 2017.

View a copy of the VPEG March 2017 Quarterly Report

15 May 2017

Notice of General Meeting

A General Meeting for Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 10am AEST, Tuesday 6 June 2017 at L25, 88 Phillip Street, Sydney NSW 2000

The purpose of the meeting is to transact the business set out below;

  1. Resolution 1 – Equal Share Capital Reduction“To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company:An equal share capital reduction of AU$0.065 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 20th of June 2017;”

The meeting notification, Explanatory Memorandum and proxy voting forms for the meeting can be downloaded here; VPEG General Meeting 06 June 2017 – Notification & Proxy Forms

14 February 2017

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 31 December 2016

Special Points of Interest;

– VPEG Distributes 11.2 cents Per Share, Plus Franking Credits, to all Shareholders, During the December 2016 Quarter

– VPEG’s Private Equity Exposure increases from 64.1% to 80.6% Following an Improvement in Underlying Company Valuations and the Payment of almost $4m in Distributions to Shareholders.

– VPEG3 Completes $20m First Close, Commencing its Investment Program in Early 2017. New Investors Can Participate via Online Application Process at Invest Now in VPEG3

View a copy of the December 2016 Quarterly Report

15 November 2016

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 30 September 2016

Special Points of Interest;

– Next Capital II Portfolio Company Next Athleisure Sells Trend Imports and Glue Stores to UK listed retailer Fashion Plc.

– VPEG to pay 7.5c per share, Fully Franked Dividend to all Shareholders on 24 November 2016 and a 3.7c per share Return of Capital During December 2016.

– VPEG3 Now Open, enhancements include Superior Tax Effective Structure, Regular Income, Incremental Calls on Capital, Improved Cash Flows, Option to Redeem after 4 years & an Online Application Process.

– VPEG3 Offers Full Rebate of 1st year’s Management Fee to all Existing VPEG Investors Participating in First Close by 15 December 2016.

View a copy of the September 2016 Quarterly Report

31 October 2016

Notice of Annual General Meeting

The 2016 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held at 10am AEDST, Tuesday 29 November 2016 at L17, 8 Chifley Square, Sydney NSW 2000

27 October 2016

2016 Final Fully Franked Dividend Resolution

At the October 2016 Board Meeting of Vantage Private Equity Growth Limited (VPEG), the board accepted the FY16 audited annual accounts for the company and resolved to pay a fully franked dividend of 7.5c per share to Shareholders on 24 November 2015.

Performance Highlights from VPEG’s Annual Report For FY16;

– Three follow on investments and one bolt on acquisition completed into existing underlying portfolio companies

– Three underlying company investments completely exited from the underlying investment portfolio, delivering VPEG 1.9 X the original investment into those companies

– Total Income received $2.52m

– Total Return of Capital received $2.37m

– Net Profit after Tax of $1.08m

– Total Distributions paid to Shareholders during FY16 of 21c per share. Distributions consisted of;

– Return of Capital of 11.3c per share (7c per share paid in July 2015 and 4.3c per share paid in June 2016)

– Fully franked dividend of 9.7c per share paid in November 2015

– Total Shareholder return during FY16 of 7.4%

– A Fully Franked dividend of 7.5c per share to be paid to Shareholders during November 2016, from Retained Earning at 30 June 2016

– A further 3.7c per share, Return of Capital distribution to be paid to Shareholders during December 2016, (subject to Shareholder approval at the Company’s AGM on 29 November 2016)

Download a copy of the VPEG 2016 Annual Report

26 August 2016

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 30 June 2016

Special Points of Interest;

– Next Capital Fund II exits Scottish Pacific Debtor Finance via a successful $293m IPO and listing on the ASX resulting in a strong distribution to VPEG in early July.

– VPEG distributes a 4.3c per share Return of Capital to all shareholders following the receipt of proceeds from the completion of the sale of Healthe Care by Archer 4.

– With 27 exits completed from the underlying portfolio, VPEG ultimately held interests in 22 underlying company investments at 30 June 2016.

View a copy of the June 2016 Quarterly Report

13 July 2016

Next Capital II Investee, Scottish Pacific Group, Successfully Lists on the ASX

Scottish Pacific Group (ASX:SCO) has been admitted to the Official List of the Australian Securities Exchange (ASX) with its ordinary shares trading from midday 13 July 2016.

Scottish Pacific Group is the clear market leader in the SME finance sector, with more than 1600 clients in Australia and New Zealand, handling more than $10 billion of invoices each year and providing debtor and trade finance funding exceeding $800 million.

Based on the listing price, Scottish Pacific Group will have a market cap of over $440m.

Read more about Next Capital II’s exit of Scottish Pacific Group

30 June 2016

Underlying Private Equity Portfolio Performance Update

As at 30 June 2016, the seven Private Equity funds in which VPEG has commitments had invested in 49 underlying companies of which 27 have been sold to date. Those exits have generated 2.94 times the original cost of investment into those companies, across an average hold period of 4.1 years, delivering a weighted average gross IRR of 28.4% p.a.

9 June 2016

2016 – Return of Capital Distribution Resolution

At the General Meeting of Shareholders of Vantage Private Equity Growth Limited (VPEG) held on 9 June 2016, 100% of Shareholders present at the meeting in person or by proxy (representing 40.4% of all shares on issue) voted in favour of the resolution for an equal share capital reduction of AU$0.043 per ordinary share to be paid by the Company to each holder of ordinary shares, on 24th of June 2016.

17 May 2016

Notice of General Meeting

A General Meeting for Shareholders of Vantage Private Equity Growth Limited (VPEG) will be held at 11am AEDST, Thursday 9 June 2016 at L17, 8 Chifley Square, Sydney NSW 2000

The purpose of the meeting is to transact the business set out below;

  1. Resolution 1 – Equal Share Capital Reduction“To consider and, if thought fit, to pass the following resolution as an ordinary resolution: To approve and ratify the following equal share capital reduction to be undertaken by the Company:An equal share capital reduction of AU$0.043 per ordinary share to be paid by the Company to each holder of ordinary shares, on or about the 30th of June 2016;”

The meeting notification, Explanatory Memorandum and proxy voting forms for the meeting can be downloaded here; VPEG General Meeting 09 June 2016 – Notification & Proxy Forms

16 May 2016

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 31 March 2016

Special Points of Interest;

– Subsequent to quarter end, Archer 4 completes the sale of Healthe Care to China’s Luye Medical Group, following approval by the Foreign Investment Review Board.

– VPEG’s Board approves a 4.3c per share Return of Capital to all shareholders following the receipt of distributions from the Healthe Care exit.

– Payment of the Return of Capital distribution will be made to all Shareholders, prior to 30 June 2016, subject to the approval of VPEG Shareholders at a General Meeting to be held during June 2016.

View a copy of the March 2016 Quarterly Report

16 February 2016

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 31 December 2015

Special Points of Interest;

– Archer Capital Fund 4 announces the sale of hospital group, Healthe Care to China’s Luye Medical Group for a media reported $938m.

– Next Capital II’s investee Scottish Pacific completes bolt-on acquisition of Bibby Australasia in preparation for an IPO later in the year.

– VPEG has now paid $108,327 in cumulative distributions, per 100,000 shares, to its shareholders since inception.

View a copy of the December 2015 Quarterly Report

06 December 2015

Archer Sells Healthe Care to Chinese Hospital Operator Luye Medical Group

Vantage Private Equity Growth Limited (VPEG) underlying fund manager Archer Capital , issued a press release today advising that Archer Capital Fund 4 portfolio company, Healthe Care was to be acquired by Luye Medical Group.

Luye Group has a network of healthcare facilities across major cities in China as well as a significant shareholding in Luye Pharma Group, a leading Chinese pharmaceutical company with an approximately A$4 billion market capitalisation on the Hong Kong stock exchange.

Healthe Care is the third largest corporate private hospital operator in Australia and one of the country’s largest privately-owned healthcare companies. Healthe Care operates a portfolio of 17 hospital sites located in major cities and key regional areas across Australia. The company has over 1,800 beds, more than 50 operating theatres and 4,500 employees.

The news media (AFR & The Australian) reported that Healthe Care had been sold to Luye Medical Group for $938m. The transaction remains subject to regulatory approval and is expected to complete in Q1 2016.

24 November 2015

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 30 September 2015

Special Points of Interest;

– VPEG distributes a further $0.07 / share, as a Return of Capital distribution to shareholders during July 2015.

– Quadrant Private Equity No. 2 completes the exit of the final two investments from its portfolio, delivering VPEG a further $1.58m in distributions.

– Quadrant Private Equity No. 2’s underlying investments (all exited) deliver VPEG a weighted average 2.8 X return on investment across an average holding period of 5.2 years representing a Gross Internal Rate of Return (IRR) of 26%.

View a copy of the September 2015 Quarterly Report

29 October 2015

Notice of Annual General Meeting

The 2015 Annual General Meeting (AGM) for Vantage Private Equity Growth Limited (VPEG) will be held at 10am AEDST, Wednesday 25 November 2015 at L17, 8 Chifley Square, Sydney NSW 2000

The Agenda, for the meeting can be downloaded here; VPEG 2015 AGM Notification

26 October 2015

2015 – Fully Franked Dividend Resolution

At the October Board Meeting of Vantage Private Equity Growth Limited (VPEG), the board accepted the FY15 audited annual accounts for the company and resolved to pay a fully franked dividend of 9.7c per share to Shareholders on 24 November 2015.

Click here to download a copy of the VPEG 2015 Annual Report

Performance Highlights from VPEG’s Annual Report For FY15;

– Five follow on investments completed into existing portfolio companies to fund expansion

– Three underlying company investments sold, delivering VPEG 3.4 X original investment into those companies

– Total Income of $5.481m

– Net Profit after Tax of $3.414m

– Total Distributions paid to Shareholders during FY15 of 17.4c per share

– Total Shareholder return during FY15 of 6.5%

– An additional Return of Capital distribution to Shareholders of 7c per share paid in July 2015

19 August 2015

Vantage Private Equity Growth Limited Quarterly Report for the 3 months ending 30 June 2015

Special Points of Interest;

– Catalyst Buyout Fund 2 sells 50% of its shares in Adairs via a successful IPO and listing on the ASX resulting in a strong distribution to VPEG.

– Archer Capital 4 negotiates early repayment of debt security held in MYOB delivering a further distribution to VPEG.

– The increase in distributions received by VPEG from the divestment of underlying investments during the quarter, will lead to further distributions to shareholders in the December 2015 quarter.

View a copy of the June 2015 Quarterly Report

30 June 2015

Underlying Private Equity Portfolio Performance Update

As at 30 June 2015, the seven Private Equity funds in which VPEG has commitments had invested in 49 underlying companies of which 24 have been sold to date.

Those exits have generated 3.13 X the original cost of investment in those companies across an average hold period of 3.9 years, delivering a weighted average gross IRR of 32.5% p.a.