Australia's Wolseley targets $279m for Fund III
Wolseley Private Equity is targeting A$300 million ($279 million) for its third fund, which will invest in small to mid-size privately-owned businesses in Australia and New Zealand. The GP expects to see considerable opportunities in this space as founders from the baby boomer generation approach retirement and struggle to identify successors capable of taking over their businesses.
The strategy is similar to that of Wolseley's second fund, which closed at A$235 million in June 2008, targeting a combination of buyouts and growth capital as well as succession planning and industry...
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