AVCJ

Goldman hires ex-PEP dealmaker for Australia, New Zealand

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Goldman Sachs has recruited David Grayce, formerly of Pacific Equity Partners, as part of efforts to expand its private investing business in Australia and New Zealand.

Based in Sydney, Grayce will serve as a managing director in the growth and corporate equity team with a brief to source and lead deals. He will report to Stephanie Hui, head of Asia private equity and global co-head of growth equity within Goldman Sachs Asset Management, according to an internal memo seen by AVCJ.

Grayce has more than two decades of experience as a private equity investor. He began his career with Bain & Company before moving to Bain Capital in 2009 and on to PEP in 2007. Having risen to the rank of managing director, Grayce switched to an advisory role several years ago and ultimately left the firm.

Goldman’s private investments in Australia include Icon Group, a cancer care business. It teamed up with QIC and Pagoda Investment to acquire the asset from Quadrant Private Equity in 2017. Towards the end of last year, EQT purchased a 70% stake for AUD 2.3bn (USD 1.67bn), facilitating full exits for QIC and Pagoda. Goldman retained a 17% interest.

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