CEO's note

Dear [FirstName]

I am pleased to announce that AVCAL has appointed a new Chair, David Brown, who formally takes over the reins this week. Outgoing Chair Andrew Rothery has completed a three year term and has decided to step down from the role. David, who has been a Member of the Council for the past three and a half years, has a long background in private equity as an investor in Australia and overseas and is a highly respected member of the Limited Partner community in Australia. This appointment reflects the diverse range of stakeholders across the industry that AVCAL represents.

I would like to take this opportunity to thank Andrew whose leadership over the past three years has helped AVCAL advance the industry's objectives and deal with difficult issues, particularly with respect to tax. His term has encompassed a time of great change for the economy and private equity and I have found his support and advice invaluable.

AVCAL and Cambridge Associates last week released the Australian PE & VC Index for 2011 Q3. Australian PE and VC continued to deliver stable, solid returns in periods of high volatility for public equities, with the Index outperforming the S&P/ASX 300 Index over all time horizons for up to 10 years. The index demonstrates yet again that Australian PE has delivered robust returns through arguably some of the most tumultuous years in the history of financial markets, with five-year returns delivering a premium to the average super fund of over 3% p.a. and out-performing the Australian listed market by nearly 5% p.a.

The format for our e-communications - including this newsletter and other system emails - have been refined now that we are using a new, integrated technology system. The system enables users to more easily register for events via the website, and to subscribe to news feeds and join our social media feeds (details below).

Kind regards

Katherine Woodthorpe
Chief Executive

Research News

The research section of our website now has a new Research Library which provides members with a one-stop centre for accessing current international research and industry reports on PE and VC, including, importantly, the global evidence on the important economic role of the industry. A wide selection of items have recently been posted - look for the NEW symbol.

AVCAL/Cambridge Associates Q3 2011 performance benchmarks

Restricted reports are available to contributing general partners.
The public report
Media release
PE index (for contributing PE GPs only)
VC index (for contributing VC GPs only)

Stay informed

You can now subscribe to email updates as news is posted to our website. Simply login to your account on our website and subscribe as required via the "Update Your Details" field. If you don't know your login, just click "Forgot your password?" and enter your name and email address. A link will then be emailed to you so you can reset it. You can do this as often as necessary. You can also follow AVCAL on Twitter and LinkedIn.