Australia's CHAMP Ventures postpones fundraise

The decision to postpone was communicated to investors last week, according to sources in the LP community. The move has been linked to succession issues within the firm.

CHAMP raised A$475 million ($360 million) for its seventh fund, beating the target of A$450 million. Its predecessor closed at A$300 million in 2006. Up to and including Fund VI, the foreign investor share of CHAMP's vehicles was less than 1%; for Fund VII, overseas investors made up over half of the corpus.

The firm concentrates on acquisitions of growth businesses in Australia and New Zealand, typically committing between A$20 million and A$80 million at enterprise valuations of A$50-200 million. In the past 12 months, CHAMP has participated in buyouts of Australian quantity surveying company BMT Tax Depreciation and New Zealand-based outdoor apparel and equipment supplier Macpac Group.

As part of the CHAMP Group, the firm can trace its origins back to 1987 and Australian Mezzanine Investments. Its affiliate, CHAMP Private Equity, which focuses on larger deals, is currently raising its fourth buyout fund. A first close came earlier this year.

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• Topics
• Australasia
• GPs
• LPs
• Fundraising
• Buyout
• CHAMP Ventures
• Australia