Archer secures $1.5b for fifth fund
Projections for Archer Capital's fifth fund continued to increase even as the capital-raising environment in Australia got tougher. A target of A$1.2 billion ($1.2 billion) soon became A$1.4 billion and finally A$1.5 billion, which is where it closed in late December, having spent less than four months in the market.
The vehicle, which counts domestic and international institutions among its investors, was significantly oversubscribed. Archer's previous fund closed at A$1.356 billion in 2007. According to AVCJ Research,...
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