Australasia
Three Australian VC firms receive IIF backing
Venture capital funds run by M.H. Carngie & Co, GBS Venture Partners and Innovation Capital will receive A$100 million ($105 million) from the Australian government through the Innovation Investment Fund (IIF) scheme. This capital will be matched dollar-for-dollar...
Australia VC: New faces
A new generation of VC firms is emerging in Australia, despite little appetite for the asset class from domestic LPs. Success hinges on leveraging Silicon Valley networks and targeting particular market niches
Billabong says buyout talks continue, despite share slump
Embattled Australian surfwear manufacturer Billabong International has said that talks continue with two prospective buyers, seeking to reassure the market after the company’s stock price plunged to a record low on Thursday.
High-profile angel investors back Australian start-up Canva
Australian online design start-up Canva has attracted $3 million in seed funding from a group of high-profile angel investors, including Adrian MacKenzie, who left his position as head of CVC Capital Partners’ local operations late last year.
Australian trade buyer fined in Castle Harlan ‘bid rigging’ case
Australian’s Federal Court ordered engineering firm Bradken to pay $22.4 million in damages over its takeover of a Canadian mining services company Norcast that was previously bought and sold on the same day by US private equity firm Castle Harlan.
Blue Sky backs Australian burrito chain
Australia’s Blue Sky Private Equity has upped its stake in the Beach Burrito Company, a chain of Mexican restaurants, investing more than A$3 million ($3.1 million).
TPG plucks chicken deal
TPG nearly missed out on acquiring Inghams Enterprises. When the Bob Ingham, the 81-year-old owner of Australia's top chicken producer, put the company on the block for A$1.5 billion ($1.5 billion) last July, the private equity firm came in with an offer...
Anacacia reap returns on Home Appliances
Family-owned businesses that have been built from the ground up often lack depth at management level. Founders who have proved themselves in the start-up phase might struggle once a company reaches a certain scale: they are wearing three hats - manager,...
Pay to play: Australia's fee debate
The debate over private equity fees in Australia is a hotly contested domestic issue, but its long-term implications say much about how the asset class might evolve at a global level
Triple C leads Series A round in Australia's Virtual Gaming Worlds
Australian boutique investment firm Triple C Consulting has led a A$2.5 million ($2.6 million) Series A round of funding for Perth-based gaming start-up Virtual Gaming Worlds.
Australia's QIC reveals stake in US retailer
Australian investment manager QIC has disclosed its ownership of a stake in online plus-size retailer OneStopPlus through its private equity unit.
Quadrant trims stake in New Zealand retirement village chain
Quadrant Private Equity is to reduce its stake in New Zealand retirement village operator Summerset. The Australian firm plans to divest around a third of its 56% holding in the NZX-listed company, equivalent to around 400 million shares.
Archer’s Brownes buys Ravenhill Dairy assets
Archer Capital-owned Brownes has agreed to buy Ravenhill Dairy’s brand, processing assets and milk supply as it bids to double turnover to A$400 million over the next five years and steal a march on Western Australia rivals Harvey Fresh and Lion.
AVCJ at 25: Tim Sims of Pacific Equity Partners
Tim Sims, a founder and managing director at Pacific Equity Partners, was part of the team responsible for Australia’s first-ever leveraged buyout in 1998. Fourteen years on, Australia is the regional hub for these deals
AVCJ at 25: Bill Ferris & Joe Skrzynski of CHAMP Private Equity
Bill Ferris and Joe Skrzynski set up Australian Mezzanine Investments in 1987. Now known as CHAMP Private Equity, the firm was responsible for some of Australia’s first buyouts and then saw the market rise and rise during the 2000s
AVCJ at 25: Joe Bae of KKR
Joe Bae, partner and head of Asia at KKR, set up the private equity firm’s regional operation seven years ago with two principal goals: being as local as possible and building a franchise that is sustainable in the long term
New Zealand's Pencarrow reaches final close of $101m on Fund IV
New Zealand-based GP Pencarrow Private Equity has reached a final close on its latest fund at NZ$124 million ($101 million).
Australia's Blackbird Ventures reaches first close on VC fund
Sydney-based VC firm Blackbird Ventures has reached a first close of A$20 million on its A$30 million ($31 million) internet-focused venture capital fund.
Unitas to complete $800m Exego exit to Genuine Parts
Unitas Capital will complete its exit from Australian car parts supplier Exego in April through an $800 million sale, including debt, to Genuine Parts.
Australia’s Advent hires ex-PwC man as investment manager
Advent Private Capital, a mid-market Australian private equity firm, has hired Rob Hooke as an investment manager. He was most recently CFO and COO at coffee machines supplier MAP Coffee and before that spent five years at PricewaterhouseCoopers (PwC).
Olympus Capital launches Asia structured credit business
Olympus Capital Asia is entering the structured credit space, with a particular focus on Southeast Asia, India and Australia. Daniel Mintz, the private equity firm’s founding managing director, believes the pullback by commercial banks combined with...
TPG buys Australian poultry producer Inghams
TPG Capital overcame several rival private equity and strategic bidders to acquire Australian poultry firm Inghams Enterprises. The family-owned company didn’t confirm the financial details, although it has been reported that the deal valued Inghams...
Blackstone, TPG among bidders for Australia's Inghams - report
The Blackstone Group and TPG Capital have reportedly placed separate bids for Inghams Chicken, Australia's largest poultry producer.
Australasian mid-market sees strong deal flow – AVCJ Forum
Private equity investors see considerable upside in Australia and New Zealand’s lower and mid-market despite fewer large deals than before the global financial crisis. This usually involves taking cash-strapped family-run businesses and improving processes...