Investor Insights: Q1 MCR Corp
STRONG TRACK RECORD
B.
C.
D.
E.
18% gross IRR (13% net IRR) on MCR hotel investment strategies (similar to Fund IV)
Net
Net
IRR
Multiple
(E)
(F)
F.
Investment ($MM)
Realized
MCR St. Louis
MCR Dulles
MCR Florida
MCRB Portfolio
MCRS Portfolio
Sub-Total (Realized)
Partially Realized
MCR Hospitality Fund II LP ("Fund II")
MCR Opportunity Fund I LP ("Fund III")
MCR Hospitality Fund LP ("Fund I")
T53 Portfolio
Sub-Total (Partially Realized)
Total (Realized & Partially Realized)
Vintage
2016
2016
2012
2012
2010
2020
2020
2017
2015
Capital
Committed
(A)
$10.3
$11.9
$6.4
$84.2
$104.0
$216.7
Capital
Invested
(B)
$10.3
$11.9
$6.4
$84.2
$104.0
$216.7
$451.0
$235.0
$127.2
$127.2
$300.0
$267.0
$316.6
$316.6
$1,194.8
$945.8
$1,411.5 $1,162.5
Gross
IRR
(C)
45.7%
6.9%
33.6%
21.8%
17.2%
20.3%
29.1%
11.5%
9.4%
12.9%
18.0%
18.3%
MCR
Gross
Multiple
(D)
2.0x
1.4x
3.8x
2.0x
1.9x
2.0x
Note: Past performance is not necessarily indicative, or a guarantee, of future results. Track record as of September 30, 2023.
A. "Capital Committed" represents the total equity raised by MCR, along with any financial partners, where MCR was responsible for the sourcing, structuring and ongoing
management of the transaction.
1.5x
1.3x
1.3x
1.9x
1.5x
1.6x
36.9%
5.9%
28.8%
19.5%
15.2%
17.8%
17.5%
9.4%
5.8%
11.6%
12.1%
13.0%
1.8x
1.2x
3.2x
1.9x
1.8x
1.8x
1.3x
1.2x
1.2x
1.7x
1.4x
1.4x
"Capital Invested" represents the total equity invested by MCR, along with any financial partners, where MCR was responsible for the sourcing, structuring and ongoing
management of the transaction. For partially realized investments, Capital Invested includes actual contributions upon acquisition and through the life of each investment
through September 30, 2023.
"Gross IRR" represents the gross aggregate, annual, compound, internal rate of return on investments, calculated on a gross basis and does not reflect the deduction of
management fees, carried interest, and other expenses borne or expected to be borne by investors, which in the aggregate are expected to be substantial. In the case of
partially realized investments, Gross IRRS are calculated assuming those investments were realized at their fair market value as of September 30, 2023.
"Gross MOIC" or "Gross Multiple" represents the multiple of invested capital, calculated on a gross basis, and does not reflect the deduction of management fees, carried
interest, and other expenses borne or expected to be borne by investors, which in the aggregate are expected to be substantial. In the case of partially realized
investments, Gross MOICs are calculated assuming those investments were realized at their fair market value as of September 30, 2023.
"Net IRR" reflects the deduction of management fees, carried interest, and other expenses from the Gross IRR on investments. In the case of partially realized investments,
Net IRRs are calculated assuming those investments were realized at their fair market value as of September 30, 2023.
"Net MOIC" or "Net Multiple" reflects the deduction of management fees, carried interest, and other expenses from the Gross MOIC on investments. In the case of partially
realized investments, Gross MOICs are calculated assuming those investments were realized at their fair market value as of September 30, 2023.
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