CHAMP exits Australian forex broker Pepperstone

Lock, who has been with CHAMP for over 17 years, will see her role with the GP change. While she will continue to be directly involved with certain portfolio companies and prospective new investments, this will no longer be in a full-time capacity.

"For many years I have known Fiona's wish to be more directly involved in the ownership and leadership of an operating company. Her chairmanship of Pepperstone on behalf of CHAMP and this transaction have provided that opportunity. I look forward to continuing to work together at CHAMP while also wishing her every success as part of the Pepperstone team," John Haddock, CEO at CHAMP, said in a statement.

This marks the first exit from the private equity firm’s fourth fund, which closed last year at A$735 million ($528 million). The fund has so far made seven investments. CHAMP took a majority stake in Pepperstone in March 2016 with a view to supporting the company’s global growth plan.

Founded in 2010, Pepperstone is based in Melbourne and has offices in Dallas, Shanghai, Bangkok, and London. It claims to offer online forex trading and contracts for difference broking services in over 65 countries, offering better service, lower spreads, and faster execution than traditional market incumbents.

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