Australia's Quadrant closes $746 million buyout fund

According to a company statement, the fund was oversubscribed, with its initial target set at $600 million. Investors in the fund include existing investors as well as Asian and European LPs. Quadrant MD Chris Hadley additionally told AVCJ that this is the first time Quadrant looked to overseas investors, which he noted was a natural maneuver as the fund's $746 million scale required diversity. The fundraising process apparently took the firm less than six months.

Quadrant 6 follows the $500 million QPE 2, which closed in April 2007 and is fully invested. Like that fund, Hadley said the vehicle will target mid-market firms in Australia and New Zealand across sectors. According to the firm, investors in QPE 2 were wholesale domestic Superannuation Funds and local Institutions.

According to Reuters, which first broke the news, this is the first fundraise by an Australian buyout firm since the global financial crisis. The event comes amid an active year for Quadrant. In July, it acquired regional media intelligence and news-aggregating firm Media Monitors for an undisclosed amount. Also that month, Quadrant sold ATF Services, a maker of temporary fence and height-safety products, to CHAMP Private Equity, also for an undisclosed amount.

 

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• Topics
• Buyout
• Australasia
• Fundraising
• Quadrant Private Equity