Australia's CHAMP PE closes Fund IV at $547m

The vehicle was launched in 2015 with a target of about A$1 billion and reached a first close of A$500 million early last year. A CHAMP spokesperson told AVCJ that in addition to the final closing amount, the firm has co-investment agreements with LPs that will give it a total of nearly A$1 billion for acquisitions.

CHAMP’s core focus is buyout deals in the Australia and New Zealand markets, typically investing in businesses with enterprise valuations A$150-750 million across a range of sectors. The firm has already made several investments from the latest fund, including the purchase of Australian foreign exchange broker Pepperstone and luxury car dealership Dutton Garage.

Two of the fund’s four investments so far have centered on the logistics sector, with CHAMP buying three New Zealand-based shipping businesses and acquiring a 50% stake in logistics software developer Containerchain. The Containerchain investment was intended to help the company expand its operations in Southeast Asia.

The firm has also made several approaches to Australian mining supplier Bradken, including an offer to support Chilean conglomerate Sigdo Koppers in its proposed merger with the Australian company in 2015 and a A$150 million recapitalization proposal last year. Both deals fell through, with the Sigdo Kopper merger breaking down due a rejected request to extend the exclusivity period and the recapitalization offer turned down by Bradken due to pricing concerns and the size of CHAMP’s proposed stake.

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• Topics
• Australasia
• GPs
• Fundraising
• Buyout
• Australia
• CHAMP Private Equity