Asset classes

Our investment process is evergreen in nature and structured around the fund life cycle. As such, we need to continually screen the market for potential investment opportunities as well as to try to identify future top performers. We look to establish long-term relationships with a small number of groups and add to these relationships selectively over time, keeping risk management at the core of our process.  

Tracking and Forward Fund Raising: We seek to establish the widest possible investable universe via our existing relationships, our research, and our industry networks.

Investment Selection: We take a highly selective approach and typically aim to commit to 8-12 funds across each vintage year. Investment selection is predominantly bottom-up within our preferred segments and based on an intensive due diligence process that takes upwards of 6 months (but often years for new relationships), combined with our knowledge of the relevant peer group.

Co-investment opportunities: During the investment period of the funds to which we have made commitments, Aviva Investors is regularly approached to consider additional investments alongside the General Partner. While these deals represent higher risk versus fund investments, offering exposure to a single company as opposed to 10 or more within a fund, co-investments have collectively represented a significant source of return enhancement.

Investment Monitoring: Post-investment, we monitor portfolios closely from the initial acquisition through to the exit of each portfolio company, staying in close contact with the funds in which we invest. This allows us to maintain our understanding of the groups in which we invest and to effectively monitor risk, as well as to identify co-investment opportunities.

Risk Management: This is a core consideration across our investment selection, portfolio construction, investment monitoring, and also our commitment strategy.