Quadrant buys Australia's Great Southern Rail from Allegro
Australia’s Allegro Funds is set for a first exit from its second fund – which closed at A$180 million ($139 million) in June of last year – having agreed to sell a majority stake in Great Southern Rail (GSR) to Quadrant Private Equity.
The transaction size was not disclosed but AVCJ understands it gives the rail operator an enterprise valuation of A$100-200 million. Allegro will generate an IRR in excess of 100% on an investment made...
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