Investments in other Private Equity Funds
Alongside its direct investment activity, Smedvig has committed capital to a select group of other private equity funds. We have sought to identify a small group of market leading managers with whom we philosophically share common ground from an investment strategy perspective. Central to this is a high level of involvement in portfolio companies - for us a key driver of exceptional returns. As both an experienced limited partner and a general partner for our own direct investments, we feel we are well placed to understand ‘both sides’ and believe this insight makes us an attractive investor for our partners.
The most established of our relationships is with Bain Capital with whom we have invested since 1998 and whom we assisted in establishment of their first European office in London. Other examples of our close long term relationships are Pacific Equity Partners and Apax Partners, with each of whom we have partnered for more than 10 years.
Over recent years we have added to our portfolio a select group of leaders in their respective fields by stage, geography or sector. More recent relationships include Cerberus, Hellman & Friedman, HIG Capital, LimeRock, Permira and Sun Capital. Since 2006 we have committed nearly $400m to new and existing relationships.
Given the history of the Smedvig Group, where appropriate, we are in a position to offer our partners access to an established high quality network of relationships in Norway, Scandinavia and in the oil and shipping industries across the world.