
In June 2004, Symmetry formed the
Symmetry Secondary Fund 2004, L.P. to purchase the private
equity partnership portfolio of a Midwestern financial services
company, which consisted of numerous venture capital, buyout
and mezzanine partnerships. This
company asked Symmetry to analyze its portfolio and provide it
with advice on how to best achieve liquidity. After an
in depth analysis, Symmetry provided the company with several
alternatives, including the sale of the portfolio. Following
the company’s review, it asked Symmetry to execute a purchase
transaction. Symmetry's principals were able, through their
contacts in the investment community, to quickly bring together
a group of sophisticated institutional investors to fund the
transaction.
This fund is an example of how Symmetry serves the needs of
its clients:
- The seller benefited from the in-depth analysis of potential
alternatives without any commitment to sell.
- The seller’s staff was free to attend to other business
with Symmetry completing the analysis of alternatives and sharing
the assumptions and conclusions with the seller’s management.
- Symmetry’s investors benefited from buying a mature
portfolio that almost immediately started producing distributions. These
investors did not have to suffer through the normal “J-curve” of
negative returns associated with the early years of a primary
partnership investment.
- Since the purchase, Symmetry has aggressively managed the
acquired portfolio, including assuming the management of one
of the purchased partnerships to lower costs and maximize the
return for its investors
For additional information, please [contact us].
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