For many of us, 2022 was a challenging year. Businesses have had to deal with rising inflation, increased energy costs and the war for talent; in the UK many people have been impacted by the cost of living crisis and elsewhere in the world millions of people have had to flee their homes due to the war in the Ukraine. As investors, employers, and members of the community it has been more important than ever for us to step up and support our people, portfolio and planet.
Despite the challenges facing businesses during 2022 we have been pleased to see our portfolio continue to focus on delivering their value creation plans, driving growth and creating value for stakeholders.
In the last twelve months we completed two new deals in the healthcare and technology sectors, supported a merger and delivered an exit with a subsequent reinvestment – with the total value on the Fund II exits to date delivering a 3.7x realised gross return. We also supported our portfolio with six bolt-on acquisitions, organised three portfolio forums, released a new series of sector reports for each of our core sectors and received external recognition for our commitment to ESG.
Our year in review summarises our key achievements from the past year, highlighting the progress we have made to continue supporting our people, portfolio and planet.
As we begin the new year, we know there will be challenges ahead of us all, but we are confident that we will continue to find the right opportunities to invest in high quality businesses, support our portfolio and develop our people throughout 2023.