CD Private Equity Fund III · ASX:CD3

CD Private Equity Fund III — Cordish Dixon Private Equity Fund III — Investor Presentation (August 2019)

14 slides from CD Private Equity Fund III's investor presentation, August 2019

  1. Slide 1: Investor update August 2019

    CORDISH a DIXON Investor update August 2019

  2. Slide 2: Important Information

    Important Information This presentation has been prepared by Walsh & Company Investments Limited as Responsible Entity (ACN 152 367 649, AFSL 410 433) of the Cordish Dixon Private Equity Fund Series (Funds or Fund Series) which includes Cordish Dixon Private Equity Fund I (ARSN 158 625 284) (CD1), C

  3. Slide 3: A Unique Joint Venture

    A Unique Joint Venture Fourth generation family-owned global business with four major areas of expertise Entertainment/Sports- Real Estate Development Gaming and Lodging Anchored Projects Private Equity Investment One of the largest and most Developed several of the most Leading developer of live Fa

  4. Slide 4: Sophisticated investors – private equity allocations

    Sophisticated investors – private equity allocations Family Office Yale Endowment – $32B Average Family Office asset allocation Yale University Endowment’s asset allocation for 2018 Domestic Commodities Hedge Funds Bonds and Cash Equity 3.4% 5.7% 4.7% 3.5% Foreign Equity 15.3% Absolute Fixed Income

  5. Slide 5: Why Private Equity?

    Why Private Equity? Consistent “playbook” to create value  Acquire good businesses that have a proven product or service offering at reasonable valuations  Upgrade management team ‒ Replace controller with real CFO ‒ Add additional sales/marketing staff; fix compensation structures to incentivise

  6. Slide 6: Typical private equity fund – investment path

    Typical private equity fund – investment path  Private equity funds generally take a number of years before turning cash-flow positive  The returns in the later years typically reward patient investors Net cashflow Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Investment Period Re

  7. Slide 7: Cordish Dixon Private Equity Fund I – CD1

    Cordish Dixon Private Equity Fund I – CD1 Underlying manager location Sector exposures Distribution Software & 9.4% Business Technology Services 4.0% 24.3% Healthcare 10.8% Telecommunications 4.6% Manufacturing 10.8% Consumer & Retail 36.2% Investments No of companies Number of Investments 96 Number

  8. Slide 8: Cordish Dixon Private Equity Fund II – CD2

    Cordish Dixon Private Equity Fund II – CD2 Underlying manager location Sector exposures Distribution 9.5% Business Services Software & 22.5% Technology 4.7% Healthcare 22.7% Manufacturing 14.1% Telecommunications Consumer & Retail 2.0% 24.5% Investments No of companies Number of Investments 116 Numb

  9. Slide 9: Cordish Dixon Private Equity Fund III – CD3

    Cordish Dixon Private Equity Fund III – CD3 Underlying manager location Sector exposures Distribution 8.5% Business Services 20.3% Software & Technology Manufacturing 26.4% 10.1% Healthcare Consumer & Retail 17.6% 17.1% Investments No of companies Number of Investments 99 Number of Full Exits 4 Sour

  10. Slide 10: Cordish Dixon Private Equity Fund IV – CD4

    Cordish Dixon Private Equity Fund IV – CD4 Underlying manager location Sector exposures  As CD4 is early in the cycle, we expect a similarly diversified portfolio to the other funds in the series once the capital is drawn down. Investments No of companies Number of Investments 34 Number of Full Exi

  11. Slide 11: CD1 Performance

    CD1 Performance $3.00 $2.00 $1.98 $1.60 Distributions of 101.5 cents1 $1.00 $0.30 $0.10 $0.11 $0.18 $0.11 $0.14 $0.075 $0.00 Initial offer price Feb-2016 Jun-2016 Jun-2017 Nov-2017 May-2018 Aug-2018 Dec-2018 Current NTA per unit SINCE INCEPTION 3 MONTH 6 MONTH 1 YEAR 2 YEAR PA 3 YEAR PA PA NTA Retur

  12. Slide 12: CD2 Performance

    CD2 Performance $3.00 $2.42 $2.00 $1.60 Distributions of 61.0 cents1 $1.00 $0.23 $0.07 $0.08 $0.10 $0.04 $0.09 $0.00 Initial offer price Feb-2016 Jun-2016 Jun-2017 Nov-2017 May-2018 Dec-2018 Current NTA per unit SINCE INCEPTION 3 MONTH 6 MONTH 1 YEAR 2 YEAR PA 3 YEAR PA PA NTA Return2 0.0% 6.6% 20.4

  13. Slide 13: CD3 Performance

    CD3 Performance $3.00 $2.00 $1.60 $1.79 Distributions of 1.3 cents1 $1.00 $0.013 $0.00 Initial offer price Dec-2018 Current NTA per unit SINCE INCEPTION 3 MONTH 6 MONTH 1 YEAR 2 YEAR PA 3 YEAR PA PA NTA Return2 2.3% 7.2% 15.6% 10.4% n/a 5.3% Note: Past performance is not a reliable indicator of futu

  14. Slide 14: Key fund details

    Key fund details KEY FUND DETAILS FUND 1 FUND 2 FUND 3 FUND 4 ASX ticker CD1 CD2 CD3 - Inception August 2012 April 2013 July 2016 April 2018 Pre-tax NTA $1.981 $2.421 $1.791 $0.651 Post-tax NTA $1.961 $2.281 $1.771 Number of managers 8 12 13 11 Total underlying investments 96 116 99 34 ̶ Investments

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