Indian private equity firm Avendus Capital reported that its Special Situations Strategy-II Fund has generated a net annualised return of 13 per cent in 3.5 years.
The fund has returned 1.4 times its capital on a net basis and 1.5 times on a gross basis compared with returns of 4.6 per cent and 10.8 per cent returns generated by BSE midcap index and BSE Sensex.
SSS-II has now been fully exited and capital returned to LPs.
The firm’s Fund III is currently generating annualised gross returns of around 52 per cent.
Avendus said that Fund II “performed well and delivered strong returns both on an absolute and a relative basis, in what has largely been a tough investment market over the last 3.5 years.”
It added that eight out of the ten Fund II investments have given positive returns to investors.
Avendus co-founder Ranu Vohra said, “Our investors have appreciated that the relative outperformance of the portfolio over the benchmark index has remained quite consistent in spite of the economic volatility.
“We are constantly improving our performance and, given our insights, research and track record, we hope to deliver much better returns in future as well.”
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