The third quarter brought two realized exits, the first close of Credit Fund IV and one markdown we want to explain in plain terms.
Exits and distributions
Quillstone completed its sale to a strategic acquirer, returning capital to Venture Funds II and III. Across the firm we distributed $412M to limited partners in the quarter.
The markdown
We marked down one growth position by 22% after it missed its revenue plan for a second quarter. We still believe in the team, and we would rather tell you early than surprise you later.
Looking ahead
Credit Fund IV remains open to qualified investors. Our annual meeting takes place in New York on 4 December.
This article is for information only and is not an offer to sell or a solicitation to buy any security. Past performance is not a guide to future results.
