Australasia
Australia's Allegro reaches first close on Fund III
Allegro Funds has reached a first close of more than A$200 million ($156 million) on its third fund. The Australian GP is no longer marketing to new investors and a final close near the hard cap of around A$300 million is expected before the end of the...
Australia's PEP fails in legal action against Adamantem
A legal action by Australia’s Pacific Equity Partners (PEP) to force the founders of Adamantem Capital – who previously worked for PEP – to disclose marketing materials used in fundraising with a view to establishing whether they have breached obligations...
Riverside invests in Australia energy software player
The Riverside Company has made an investment of undisclosed size in Energy Exemplar, a software provider for the electric power, water, gas and renewables industries.
Five V Capital invests $8m in Australia's RateSetter
Five V Capital, a private equity firm headed by CVC Capital Partners’ former Australasia lead Adrian MacKenzie, has led a A$10.5 million ($8.2 million) funding round for Sydney-based financial services provider RateSetter.
PE investors abandon Australia childcare merger
Outside school care providers Camp Australia and Junior Adventures Group (JAG), which are owned by Bain Capital Private Equity and Advent Partners, respectively, have abandoned plans to merge.
Australia agtech: Tending the seedlings
Agricultural technology investment in Australia is growing rapidly from a low base. Sustaining this momentum requires international capital channels and attention to local differentiators
Ex-TPG Asia head Ben Gray launches debut fund
BGH Capital, the Australia and New Zealand-focused private equity firm set up by Ben Gray (pictured), formerly co-head of TPG Capital in Asia, has launched its debut fund with a target of A$2 billion ($1.6 billion).
Ironbridge makes partial exit from Australia's Bravura
Ironbridge Capital has made a partial exit from Bravura Solutions, the Australia-based financial services administrator that raised A$148 million ($118 million) through a domestic IPO last November.
Carlyle exits Australia's Coates Hire to Seven Group
The Carlyle Group has sold its approximately 46% stake in Coates Hire as Seven Group Holdings took full ownership of the Australian equipment-leasing business in a deal worth A$517 million ($418 million).
Succession planning: Ending an era
Succession planning is quickly becoming a strategic priority across Asia Pacific. In Australia, GPs are looking into a number of different ways to make it work
Waterman exits New Zealand's HealthLink
New Zealand’s Waterman Capital has exited its entire 50% stake in HealthLink, a local online services provider for the healthcare industry, to Ireland-based medical technology specialist Clanwilliam.
PE and AI: The machinists
After decades of tantalizing but patchy progress, artificial intelligence is finally seen as ready for mass commercialization. Investors must now weigh an unmissable opportunity with a world of uncertainty
Australia's Next Capital sells Infinite Care to Moelis
Next Capital has agreed to sell its controlling stake in Australia-based aged care business Infinite Care to Moelis Australia. The GP first invested in the company in December 2014.
Australia's PEP considers infrastructure fund
Pacific Equity Partners (PEP), currently Australia’s largest domestic buyout player, plans to raise an infrastructure fund with a view to applying operational knowhow from private equity to investments in a different asset class.
Australia exits: Closed window
Exit activity in Australia has followed a boom and bust pattern in recent years. Investors are consequently cautious about near-term IPO potential but not inactive
Greenstone invests $21m in Australian miner
Mining-focused private equity firm Greenstone Resources has invested $21.2 million in Australian base metals project developer Heron Resources.
High valuations push Australian LPs up the infrastructure risk curve
Australian institutional investors are responding to rising valuations in the core infrastructure space by moving up the risk curve into more opportunistic assets – and domestic pricing pressure is also expected to lead to higher emerging markets allocations.
Australia invests $11m across three biotech start-ups
The Australian government has agreed to invest A$13.3 million ($11 million) into three local healthcare start-ups via it’s Biomedical Translation Fund (BTF).
Australia's Advent sells Integrated Packaging to Pro-Pac
Australian mid-market GP Advent Partners has agreed to sell Integrated Packaging Group (IPG), an industrial and agricultural packaging business, to listed counterpart Pro-Pac in a deal worth A$177.5 million ($142.9 million).
GP-LP: Dangerous liaisons
A diverging supply-demand dynamic in private equity fundraising is threatening the GP-LP alignment of interest. Concessions on both sides are needed in the interests of long-term stability
Bain reaches $557m first close on Asia special situations fund
Bain Capital Credit has reached a first close of $557 million on its Asia-focused special situations fund.
Mercury gets go-ahead for New Zealand healthcare deal
Australia-based middle market GP Mercury Capital has won regulatory approval to acquire about 50% of Nirvana Health Group, New Zealand’s largest independent primary healthcare services provider.
KKR to take majority stake in Laser Clinics Australia
KKR has acquired a majority stake in cosmetic treatments business Laser Clinics Australia (LCA) at a valuation of A$650 million ($515 million). The deal facilitates a partial exit for The Growth Fund.
Chinese investor commits $63m to Australia incubator
Suzhou High-Tech Venture Capital Group, a Chinese state-backed investment fund, has committed A$80 million ($63 million) to a start-up incubator based in Melbourne.