Australasia
Affinity recruits Australia head, re-hires executive from Quadrant
Affinity Equity Partners has strengthened its coverage of Australia and New Zealand with the recruitment of Nick Speer from The Riverside Company as a partner and local team leader and the rehiring of Mark Chudek from Quadrant Private Equity.
Asia PE compensation set for downward adjustment in 2023
Compensation for private equity professionals at most levels of seniority in Asia Pacific continued its upward trend in 2022 despite a weaker economic outlook and a slowdown in deal flow, but executive search firm Heidrick & Struggles expects some kind...
Australia's Potentia wins majority shareholder approval for Nitro bid
Potentia Capital has secured support from more than half of Nitro Software’s shareholders for a take-private bid that values the listed Australian company at up to approximately AUD 552m (USD 370m).
GPs double down on value creation to maintain returns - AVCJ Forum
Private equity investors must find more operational levers to pull as LPs seek the same if not higher returns from the asset class despite more challenging economic conditions.
Australian HNWIs want more PE exposure, but obstacles remain - AVCJ Forum
Private equity may not be proven in the eyes of Australia’s high net worth investors, most of whom haven’t been exposed to the asset class across multiple cycles, but it earned wider recognition last year as public equities and fixed income struggled.
Australian GPs look to retain spirit of entrepreneurship - AVCJ Forum
The combination of personalities and skillsets that characterised the first generation of Australian private equity is unlikely to be repeated, but GPs are still looking for ways to capture elements of entrepreneurialism even as the industry becomes more...
Adams Street establishes Australia presence
Adams Street Partners has opened an office in Sydney, which will be led by Shaun Thomas, an investor relations principal who joined the firm last November.
Australian LPs get tough on unlisted valuations - AVCJ Forum
Australian LPs are facing more scrutiny as to how they value unlisted assets, prompting several superannuation funds to establish independent valuation teams that operate separately from private equity investment professionals.
Macquarie leads $99m round for Australia IT provider Orro
Macquarie Capital has led a AUD 150m (USD 99m) investment in Orro Group, an Australian enterprise IT services provider set up by local private equity firms Liverpool Partners and Parc Capital.
TPG targets $1.2b Australia funeral services take-private
TPG Capital has submitted a buyout offer for Invocare, a listed Australian provider of funeral services and operator of memorial parks and crematoria, that values the company at approximately AUD 1.8bn (USD 1.2bn).
BGH, Sixth Street's PushPay buyout bid set to fall short
New Zealand and Australia-listed payments business PushPay has announced that its NZD 1.54bn (USD 933m) acquisition by BGH Capital and Sixth Street Partners will not proceed based on proxy votes already received.
Q&A: Aware Super’s Damien Webb
Damien Webb, deputy CIO and head of international at Australia’s Aware Super, on opening offices overseas, internalising asset management, and opportunities at the nexus of PE and infrastructure
New Zealand electronic waste start-up gets $37m
New Zealand’s Mint Innovation, a precious metals refiner that salvages electronic waste, has raised NZD 60m (USD 37m) in Series C funding featuring Australian PE firm Liverpool Partners.
Asia co-investment: Gun-shy LPs?
Overallocation, risk aversion, and troubleshooting existing deals have prompted some LPs to pull back from co-investment in Asia. Others are willing to step in, but the market is selective
Q&A: Blackbird Ventures’ Rick Baker
Rick Baker, co-founder of Australia’s Blackbird Ventures, on pricing adjustments in the tech space, fundraising and secondaries, valuing unicorns, and the rise of ChatGPT
Allegro agrees take-private of Australian law firm
Allegro Funds has agreed to acquire Slater & Gordon, a Melbourne-headquartered law firm that trades on the Australian Securities Exchange, at a price that equates to a market capitalisation of around AUD 77.6m (USD 52.3m).
AVCJ Awards 2022: Fundraising of the Year – Mid Cap: Potentia Capital
For Australia’s Potentia Capital, the beauty of its sophomore fundraise was not that it took four months, but that it took two years. Putting out feelers well before the official launch created buzz
Potentia makes improved buyout offer for Australia's Nitro
Potentia Capital has submitted a new bid for Nitro Software that values the listed Australian business at approximately AUD 532.3m and eclipses a competing offer from a strategic investor.
Anchorage agrees carve-out from New Zealand's Green Cross Health
Anchorage Capital Partners has agreed to buy New Zealand-based Green Cross Health’s community healthcare business – which provides in-home nursing, personal care, rehabilitation, social support, and household assistance services – for an enterprise...
L Catterton re-ups in Australian kombucha brand
Remedy Drinks, an Australia-based healthy beverage brand, has raised a Series B round from existing investors L Catterton and Kin Group.
Deal focus: Small is beautiful at Quantum Brilliance
Australia-based Quantum Brilliance has raised USD 18m in pre-Series A funding on the back of technological breakthrough that delivers quantum computing without large-scale cooling infrastructure
Deal focus: Loam Bio’s agri-climate offering resonates with investors
Soil carbon sequestration specialist Loam Bio’s Series B is the largest ever seen in Australian agricultural technology. The company’s backers expect it to go big and go global
New Zealand's Pencarrow closes Fund VI on $187m
New Zealand-based Pencarrow Private Equity has closed its sixth fund at the hard cap of NZD 300m (USD 187m), having scaled up from NZD 250m in the previous vintage.
