Is Australian private equity headed down under?
A recent report suggests that the high value of the Australian dollar against the US dollar is making life difficult – i.e. more expensive – for private equity funds, which tend to operate in the US currency. Taxes imposed by the government on asset sales don’t make things any easier. The question then, is whether or not this will/should dampen the Australian private equity industry’s recovery? To attempt to answer that, let’s look at how the market performed in 2010.
Total investments came to $11.6 billion, a vast improvement on 2009 when the figure didn't even reach $7 billion, but still well down on the 2006 peak. In terms of investment by stage, Australia consolidated...
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