Australia

Private equity and venture capital news from Australia

More articles

• CHAMP exits Study Group for $570m, picks up ATF Services 01 Jul 2010. Source: AltAssets. Australian private equity firm CHAMP has sold university programme provider Study Group to US media and communications specialist Providence Equity Partners.

• Providence takes the lead in Study Group auction 23 Jun 2010. Source: AltAssets. Media and communications-focused private equity firm Providence has taken the lead in the bidding for Study Group, according to reports.

• Riverside continues to deploy Asia fund with Japan and Australia investments 04 Jun 2010. Source: AltAssets. US lower mid-market firm Riverside Company has signalled its deepening interest in Asia with new investments in Japan and Australia.

• CVC to join KKR as PE bidding for Healthscope intensifies 01 Jun 2010. Source: AltAssets. The race for Australian healthcare company Healthscope has intensified, with CVC in talks with KKR to join the New York firm’s $1.5bn bid, according to reports.

• Blackstone to expand into Australia 19 May 2010. Source: AltAssets. US private equity firm Blackstone is to expand into Australia to capitalise on opportunities in the region, according to Reuters.

• Healthscope receives $1.6bn offer from PE consortium 14 May 2010. Source: AltAssets. Australian hospital operator Healthscope has announced that an unnamed private equity consortium has made a $1.6bn buy-out offer for the company, which Reuters reports as comprising Carlyle and TPG.

• Riverside squeezes into Australian market with juice bar deal 04 May 2010. Source: AltAssets. The Riverside Company, a US mid-market buy-and-build specialist, has moved into the Australian market with its first play in the country - Boost Investment Group, owners of Boost Juice Bars and Salsa’s Fresh Mex Grill.

• Australia Future Fund posts 2.8 per cent quarterly return 30 Apr 2010. Source: AltAssets. Australian sovereign wealth vehicle the Australia Future Fund has reported a 2.8 per cent return for the quarter to 31 March. This brings the level of returns for the fund’s latest investment programme to 3.1 per cent since it launched in July 2007.

• Pacific Equity, CHAMP bid for Affinity Equity-owned pallet maker 23 Apr 2010. Source: AltAssets. Australian private equity firms Pacific Equity Partners and CHAMP have advanced to the second round of bidding for pallet maker Loscam, owned by Affinity Equity Partners, according to Reuters.

• Riverside sets up shop in Australia 20 Apr 2010. Source: AltAssets. US lower mid-market private equity firm The Riverside Company has expanded its activities with the opening of a new office in Melbourne, Australia, as it looks to deploy its Riverside Asia Fund.

• Anchorage Capital Partners caps fund at AUS$200m 15 Apr 2010. Source: AltAssets. Sydney-based private equity firm Anchorage Capital Partners has closed its maiden fund on AUS$200m ($186.7m), having capped the vehicle after receiving strong Australian and US investor interest.

• AVCAL says new tax laws could reduce foreign PE investment in Australia 01 Feb 2010. Source: AltAssets. An Australian private equity association has criticised draft tax proposals on private equity deals in the country, saying they show a “lack of understanding” of how the industry functions. The Australian Private Equity and Venture Capital Association (AVCAL) says that the proposed private equity tax legislation could pose a threat to future foreign investment in the country.

• Australia pursues TPG for $628m in Myers sale taxes and penalties 25 Nov 2009. Source: AltAssets. US private equity firm TPG has been hit with a $628m bill from Australian authorities over alleged unpaid taxes from the $2.2bn sale of department store chain Myers, in a case that could affect future Australian private equity activity. According to reports, the charges include AUS$452m ($421.7m) in capital gains tax, and half again in penalty fines.

• TPG in $632.5m tax dispute over Myers exit 16 Nov 2009. Source: AltAssets. TPG has become embroiled in a dispute with an Australian regulatory body over alleged non-payment of taxes from the $2.2bn sale of department store chain Myers last month.

• TPG and Blum Capital exit Myer department store in $2.2bn IPO 30 Oct 2009. Source: AltAssets. TPG and Blum Capital Partners, the US private equity owners of Australian department store group Myer, have exited their majority stake in the chain in a Sydney flotation that valued the business at AUS$2.4bn ($2.2bn), according to reports. The IPO is Australia’s largest for two years.

• Retired CEO of Macquarie emerges at PE firm Anchorage 27 Oct 2009. Source: AltAssets. Ex-CEO of Macquarie Group, the Australian investment banking firm, Alan Moss has emerged at Anchorage Capital Partners, a special situations-focused private equity firm based in Sydney. Moss, who has come out of retirement to take the role, will act as a special advisor to Anchorage’s investment committee.

• Australian private equity firm Archer plans Ascendia IPO 14 Oct 2009. Source: AltAssets. Sydney leveraged buy-out specialist Archer Capital has hired three investment banks to advise on a proposed flotation of its Australian sports retailer Ascendia, according to reports.

• Former Deutsche Bankers launch investment bank specialising in Asian distressed and illiquid investments 09 Oct 2009. Source: AltAssets. SC Lowy Financial Services, a new investment bank headed by ex-members of Deutsche Bank’s Asian distressed assets division, has commenced operations in Hong Kong, focusing on Asian distressed and illiquid investments.

• Castle Harlan and CHAMP sell off United Malt for $655m 06 Oct 2009. Source: AltAssets. New York private equity firm Castle Harlan and its Australian affiliate CHAMP Private Equity have sold United Grain Holdings, an international collection of four producers of malt for the brewing and distilling industries, to Australian bulk-grain handler GrainCorp. The deal is valued at $655m.

• Australian fund manager QIC restructures operations 10 Sep 2009. Source: AltAssets. QIC, an Australian wholesale fund manager, is restructuring its business by breaking up its operations into a number of investment boutiques.

• Macquarie Group considers purchase of Fox-Pitt Kelton Cochran Caronia Waller 21 Aug 2009. Source: AltAssets. Australian investment bank Macquarie Group is in talks about the purchase of Fox-Pitt Kelton Cochran Caronia Waller, a small investment bank partly owned by private equity firm JC Flowers, according to reports.

• TPG-owned department store considering IPO 05 Aug 2009. Source: AltAssets. Australia’s largest department store chain Myer Group, which is owned by buy-out giant TPG, may seek an initial public offering before the end of 2009, according to reports.

• Allco Equity Partners to return AUS$60m to shareholders 01 Jul 2009. Source: AltAssets. Shareholders in Australian private equity firm Allco Equity Partners have approved a capital return of AUS$60m ($48.4m) and a change of name to Oceania Capital Partners, news agency AAP reports.