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DIF Mezzanine Debt Trust Update 31 December 2008
The DIF Mezzanine Debt Trust commenced operations in November 2005. Since inception, it has raised $309 million in commitments. The Trust expects to exit investments in WestNet Rail and Spirit Holdings in early 2009 at IRRs in the range of 15%. Since inception, the Trust has invested in 14 assets and achieved 7 full or partial exits.
DIF Mezzanine Debt Trust Update 15 February 2007
The DIF Mezzanine Debt Trust commenced operation during November 2005. Over fifteen months since start-up, the Trust has invested $190 million from institutional investor commitments totalling $204 million. The trust’s investment program has delivered a current portfolio (after one asset realisation) of seven assets diversified by sector, geography and maturity profile. Distributions totalling $35 million have been returned to unit holders since inception and the Trust is currently tracking to a gross IRR of 15.4%. The Mezzanine Debt Trust is now seeking new commitments, and re-commitments of returned capital, of up to $100 million to cover investments in the current opportunity pipeline. Cumulative commitments of over $300 million are targeted.
DIF progress release 25 August 2006
Direct Investment Fund Limited (DIF) today announced that it has raised unit holder commitments of $365m.
DIF investment update 12 July 2006
At end-June 2006 DIF held net invested asset value of $214 million across thirteen assets.
DIF Mezzanine Debt Trust achieves 'first open' 30 August 2005
DIF Mezzanine Debt Trust has achieved ‘first open’ with $56 million of commitments. Of this $56 million, $16 million is already assigned to the Trust’s first investment. The DIF Mezzanine Debt Trust will be managed by Ted Dow, who was appointed as DIF’s Chief Investment Officer Mezzanine Debt in mid-July.
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