River Capital Annual Investor Briefing 2025
River Capital held its annual Investor Briefing on the 31st July. The event provides us with a great opportunity to reflect on the progress we've made, the opportunities we've embraced, and the enduring partnerships that make it all possible.
Three and a half years ago, River made a defining decision:
To reset the Founders Fund,
exit the Credit Fund,
introduce the Dividend Plus Fund,
and broaden our SPV activity.
None of this would have been possible without our co-investors' support and the remarkable efforts of our talented, dedicated, and cohesive team at River.
Since then, River Capital has offered investors $285 million in SPV opportunities - and it was pleasing to report strong performance across both the Funds and the SPV portfolio for FY25.
A key driver of this success was and continues to be the integration of our decision-making and idea-sharing across the River investment teams.
The independent Investment Committee members in Greg Hosking, Tim Poole and Kate Howitt are meaningful contributors to this process, ensuring our strategies don't operate in isolation. Rather, the idea generation and sharing is tied together by the Investment Committee and a team that are focused on identifying great opportunities to invest in.
FY25 was a validation of our approach, highlighted by:
- Strong performance across the listed companies held in both the Founders Fund and the Dividend Plus Fund.
- The creation of the Midway Trust, stemming from the privatisation of Midway - a position originally held in our listed Fund.
- We achieved key milestones in several of our SPVs including the capital return from The Cheesecake Shop, Aspire2's entry into Australia, and earnings growth across the portfolio leading to revaluations.
The sessions on the day included an interactive conversation with Barry Carp and Jim Craig, reviewing the performance of the Funds and exploring the areas of opportunity for FY26 and beyond.
Josh Ludski then outlined the performance and revaluation of our SPVs - and looked ahead to the future pipeline for private equity opportunities.
And finally, we got to hear from the dynamic Sussan Turner, CEO of Aspire2, the company purchased by the Tasman Trust with a firsthand update on how the business is tracking and evolving.
We shared a recording of the meeting for those that were unable to join us in person - click here to view this in the River Capital Data Room.
It's always exciting for the River team to share these updates with our co-investors - and we remain deeply grateful for the trust they continue to place in River Capital.
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