Australia’s Advent hires ex-PwC man as investment manager
Advent Private Capital, a mid-market Australian private equity firm, has hired Rob Hooke as an investment manager. He was most recently CFO and COO at coffee machines supplier MAP Coffee and before that spent five years at PricewaterhouseCoopers (PwC).
Hooke was part of PwC's corporate finance and transactions services teams in Australia, where he advised on Advent's A$49.3 million (A$48.4 million) exit of payment gateway company SecurePay to Australia Post in 2010. The deal yielded a 6.2x return.
The private equity firm is currently raising its sixth fund, which has a target of A$400 million. A first close of A$88 million came in late 2011. Advent recently sold metal products manufacturer Locker Group Holdings to US-based Valmont Industries, its third exit in the last six months with a return of 2.5x or more.
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