Australasia
Australia's SproutX closes $8m agritech fund
SproutX, an Australian accelerator focused on agricultural technology, has raised A$10 million ($7.7 million) for a venture capital fund. Artesian Venture Partners will act as investment manager.
Chow Tai Fook to buy Australia's Alinta from TPG
Hong Kong's Chow Tai Fook Enterprises (CTFE) has agreed to buy Australian power utility Alinta Energy, providing an exit for TPG Capital.
Australia launches incubator in Singapore
The Australian government has launched a start-up incubation program in Singapore that will focus on emerging industries, including services, and support new export market opportunities.
Platinum to buy Staples' Australia, New Zealand business
US-based private equity firm Platinum Equity has agreed to buy the Australia and New Zealand businesses of business products supplier Staples.
Pioneer hits $180m hard cap on third New Zealand fund
New Zealand’s Pioneer Capital has hit the hard cap of NZ$260 million ($180 million) on its third growth fund, beating the target of NZ$210 million. It follows the first investment from the new vehicle in Havelock North Fruit.
Denham platform to assume control of Australia-listed miner
Denham Capital has agreed to take full ownership of Cradle Resources, an Australia-listed mining company that holds a 50% interest in a niobium deposit in Tanzania, at a valuation of A$55 million ($41.6 million).
Australia to streamline foreign investment approvals
The Australian government has proposed an amendment to foreign investment rules introduced in late 2015 that require some private equity firms to obtain regulatory approval when making a buyout.
Australia's Uniseed secures $15m for VC fund
Uniseed, a venture fund manager associated with the Australian government’s CSIRO research unit and a number of domestic universities, has secured A$20 million ($15.2 million) in fresh commitments for a new follow-on fund.
Australia's QIC closes global infrastructure fund at $1.8b
QIC, an investment manager controlled by the Queensland state government, has closed its global infrastructure fund at the hard cap of A$2.3 billion ($1.8 billion), beating the A$1.7 billion target.
Industry players warn of conflicts in evolving GP-LP relationship - AVCJ Forum
Institutional investors globally are looking to reduce the number of GPs in their portfolios with a view to writing bigger checks for – and having deeper relationships with – a smaller number of managers, but this lack of diversification in the LP...
Family offices want flexible solutions from PE - AVCJ Forum
Australian family offices and high net worth individuals (HNWIs) represent a huge potential source of capital for private equity, but GPs must be flexible in terms of the products they offer.
New GPs will not shake Australia PE market dynamic - AVCJ Forum
The Australian private equity market has seen the emergence of a number of new GPs – including several spin-outs – but incumbent managers told the AVCJ Australia & New Zealand Forum that they do not expect much change in the competitive landscape.
Fund focus: Into the white space
The arrival of Odyssey Private Equity – a collaborative effort by former executives from two of Australia’s best known GPs – once again draws attention to the hole in Australia’s lower middle market
IFM invests Australian fashion retailer
IFM Investors’ private equity arm has acquired a significant minority stake in Colette By Colette Hayman, an Australian retailer of handbags and fashion accessories.
Australia's Hostplus commits $65m to seed investor Artesian
Australian superannuation fund Hostplus has committed A$85 million ($65 million) to local seed investor Artesian, taking the venture capital firm’s funds under management to more than A$150 million.
US online lender SoFi raises $500m to expand in Australia
US online lender and financial services company SoFi has secured a $500 million Series F funding round led by Silver Lake for an expansion effort into Australia.
Bain makes partial exit from Australia's MYOB
Bain Capital Private Equity has made a partial exit from Australian accounting software developer MYOB, reducing its holding from 56.25% to approximately 39.1%.
Soft middle: Australia's underserved lower middle market
Fewer GPs are targeting Australia's lower middle market as a result of increasing fund sizes and the difficulties local LPs have writing small-ticket checks. The arrival of new PE firms is encouraging, but they aren't necessarily positioned to fill this...
Cost conundrum: Super funds, fees and private equity
Australian regulators want greater consistency in how superannuation funds report costs and fees to members. While sound in principle, the draft measure is problematic in practice, especially for private equity
AirTree leads $19m investment in Australia's Prospa
AirTree Ventures has led a A$25 million ($19.2 million) investment in Australian financial technology company Prospa.
Australia mining: Desert stirrings
A stronger commodity price environment has spurred some opportunistic private equity investment in Australian mining services, but caution remains the mantra in this industry of capricious value drivers
Australia aged care: The golden years
Australia’s aged care segment continues to appeal to private equity investors. But GPs must be wary of the challenges posed by the government’s unique stake in the market
Q&A: Adamantem Capital's Anthony Kerwick & Rob Koczkar
After more than 25 years between them at Pacific Equity Partners, Anthony Kerwick and Rob Koczkar departed in 2014 to pursue other opportunities. They have now joined forces as Adamantem Capital
The hybrids: GPs seek to work with Australian family offices
Australia’s lower middle market is rich in investment opportunities but underpenetrated by private equity. Local family offices are increasingly keen on participating, although in their own way