26 Jan 2009 16:48
RNS Announcement
26 January 2009
Portfolio update
Bramdean Alternatives Limited
This portfolio update contains information for the calendar month ending
31 December 2008, unless otherwise stated. The Company will publish its Interim Management Statement for the quarter ended 31 December 2008 by mid-February 2009.
The Company's Net Asset Value as at 31 December 2008 is as follows:
Sterling Share class: 99.81 pence, up 4.49%
U.S. Dollar Share class: US$0.8188, up 0.61%
| Manager | Type | Portfolio Weighting |
| Cash | Cash | 19.4% |
| Greenpark International Investors III L.P. | Private Equity | 6.9% |
| Paulson Advantage Plus Ltd. | Strategic Hedge Funds | 5.7% |
| D.E. Shaw Oculus International Members Interest | Strategic Hedge Funds | 5.2% |
| Oaktree OCM Opportunities Fund VIIb L.P. | Specialty | 5.1% |
| Alydar Fund Ltd. | Strategic Hedge Funds | 4.9% |
| Aarkad Plc | Transitional | 4.3% |
| Lansdowne UK Equity Fund | Strategic Hedge Funds | 4.2% |
| Hard Assets 2X Fund Ltd. | Strategic Hedge Funds | 4.1% |
| Thomas H. Lee Parallel Fund VI L.P. | Private Equity | 4.0% |
| Renaissance Institutional Futures Fund International LLC | Transitional | 3.1% |
| King Street Capital Ltd. | Strategic Hedge Funds | 3.0% |
| Deephaven Global Multi-Strategy Fund Ltd. | Strategic Hedge Funds | 2.9% |
| Coller International Partners V L.P. | Private Equity | 2.9% |
| Kaiser Trading Fund | Transitional | 2.7% |
| Goldman Sachs Capital Partners VI L.P. | Private Equity | 2.6% |
| MatlinPatterson Global Opportunities Partners III L.P. | Specialty | 2.5% |
| Terra Firma Capital Partners III L.P. | Private Equity | 2.3% |
| Kaiser Trading Diversified 2X Segregated Portfolio | Strategic Hedge Funds | 2.1% |
| Kei Ltd. | Strategic Hedge Funds | 1.6% |
| DFJ Athena | Private Equity | 1.4% |
| Lehman Brothers Venture Partners V L.P. | Private Equity | 1.4% |
| Silver Lake Partners III L.P. | Private Equity | 1.2% |
| AIG Brazil Special Situations II L.P. | Private Equity | 0.9% |
| Atticus European Fund Ltd. | Strategic Hedge Funds | 0.8% |
| SVG Strategic Recovery Fund II L.P. | Specialty | 0.8% |
| Evergreen MAC Ltd. | Strategic Hedge Funds | 0.8% |
| Pine Brook Capital Partners L.P. | Specialty | 0.7% |
| Rho Ventures VI L.P. | Private Equity | 0.7% |
| Resonant Music I L.P. | Specialty | 0.7% |
| HIG Bayside Debt & LBO II Fund L.P. | Specialty | 0.7% |
| Thoma Bravo Fund IX L.P | Private Equity | 0.4% |
| LimeTree Emerging Beachfront Land Investment Fund II L.P. | Specialty | 0.1% |
Transitional investments: The Company will seek to avoid return dilution caused by holding amounts that are not committed or are committed, but not yet drawn-down, on both underlying private equity funds and underlying specialty funds by investing a portion of such amounts in a range of transitional investments, which may include equity hedge, senior debt, mezzanine and market neutral funds.
| Geographical Allocation | Allocation % |
| North America | 55.3 |
| Global | 22.3 |
| Europe | 18.6 |
| Asia & Other | 3.8 |
| Portfolio Holdings | Allocation % |
| Strategic Hedge Funds | 35.1 |
| Private Equity | 24.7 |
| Cash | 19.4 |
| Transitional | 10.1 |
| Specialty | 10.7 |
The Company has now made commitments to eighteen private equity and specialty funds. These are listed below. The Company has made total commitments to underlying private equity and specialty funds amounting to $224.9 million.
The portfolio has allocations to two secondaries funds, nine private equity and venture capital funds, and seven specialty funds. Please see the table below.
| Private Equity & Specialty Funds | Private Equity & Specialty Funds Focus | Commitment in local currency | Date of Admission | Fund Vintage |
| Terra Firma Capital Partners III L.P. | Europe-Large Buy-out | €15 million | 26 January 2007 | 2006 |
| Goldman Sachs Capital Partners VI L.P. | Global-Mega Buy-out | US$15 million | 15 March 2007 | 2006 |
| Greenpark International Investors III L.P. | Secondaries | €14.6 million | 29 March 2007 | 2006 |
| Coller International Partners V L.P. | Secondaries | US$15 million | 13 April 2007 | 2006 |
| Thomas H. Lee Parallel Fund VI L.P. | US-Mega Buy-out | US$15 million | 27 April 2007 | 2006 |
| Silver Lake Partners III L.P. | Global - Large Buy-out | US$15 million | 18 May 2007 | 2007 |
| MatlinPatterson Global Opportunities Partners III L.P. | Global - distressed | US$10 million | 28 June 2007 | 2007 |
| SVG Strategic Recovery Fund II L.P. | Activist UK small-cap | £7.5 million | 21 May 2007 | 2006 |
| AIG Brazil Special Situations Fund II L.P. | Latin America - Special situations | US$10 million | 10 August 2007 | 2007 |
| Lehman Brothers Venture Partners V L.P. | US - mid-stage Venture capital | US$12.5 million | 16 July 2007 | 2007 |
| Oaktree OCM Opportunities Fund VII b L.P. | Global - distressed debt | US$15 million | 19 September 2007 | 2007 |
| DFJ Athena L.P. | Venture capital - Korean companies | US$10 million | 20 December 2007 | 2007 |
| Rho Ventures VI L.P. | US Venture capital - life sciences and technology | US$10 million | 21 December 2007 | 2008 |
| Pine Brook Capital Partners L.P. | Global - growth equity | US$10 million | 1 October 2007 | 2007 |
| Thoma Bravo Fund IX L.P. | US - growth equity | US$10 million | 27 March 2008 | 2008 |
| HIG Bayside Debt & LBO Fund II L.P. | US - distressed debt and growth equity | US$15 million | 14 May 2008 | 2008 |
| Limetree Emerging Beachfront Land Investment Fund II L.P. | Asia Pacific beachfront land with development potential | US$ 5 million | 13 August 2008 | 2008 |
| Resonant Music I L.P. | U.S. and UK music-for-film financing fund | US$5.45 million | 31 October 2008 | 2008 |
This portfolio update has been produced by Bramdean Asset Management LLP, which is authorised and regulated by the Financial Services Authority. It is aimed solely at shareholders of Bramdean Alternatives Limited and it should not be relied upon by any other person.
Please note that Bramdean Asset Management LLP has obtained information from a wide variety of sources for the content of this portfolio update. Whilst it has made reasonable endeavours to verify such information, this portfolio update should not be used as the exclusive basis of any investment decisions. It relates to a relatively short time period whilst many of the investments of Bramdean Alternatives Limited are of a long-term nature. An investment in Bramdean Alternatives Limited may rise or fall in value and investors may not recoup the amount originally invested. Past performance is not a guide to future returns.
Bramdean Alternatives Limited invests in high risk alternative investment vehicles. It is
aimed at professional or sophisticated investors who intend to hold their investment
for the longer term. If you are not a professional or sophisticated investor you should take independent financial advice in relation to any proposed investment in Bramdean Alternatives Limited.
Please note that up to date information on the Company, including its monthly NAV and share prices, fact sheets, Prospectus and portfolio information can be found at www.bramdeanalternatives.com.
Registered Office: Canada Court, Upland Road, St. Peter Port, Guernsey, GY1 3QE, Channel Islands.
CONTACT DETAILS
Amanda McCrystal, or amccrystal@bramdean.com
Bramdean Asset Management LLP. 35 Park Lane, London W1K 1RB, United Kingdom
T: +44 (0)20 7052 9272 F: +44 (0)20 7052 9273 W: www.bramdeanalternatives.com
Capita Registrar's helpline is 0871 664 0300 (Calls cost 10 pence per minute plus network extras). For callers outside the UK, please dial: +44 (0)20 8639 3399.
Ends.