Quadrant Private Equity has closed a USD 500 million Private Equity Fund (QPE No.2) with investors being wholesale domestic superannuation funds and local Institutions. The fund had
Quadrant Private Equity has closed a USD 500 million Private Equity Fund (QPE No.2) with investors being wholesale domestic superannuation funds and local Institutions. The fund had a target raising of USD 400 million with investor appetite beyond the hard cap of USD 500 million.
The new fund will continue to invest in management buyouts and expansion capital deals in Australia and New Zealand. The buyout deals will be in an enterprise value range of USD 100 million to USD 500 million with an equity cheque of USD 40 million to USD 100 million.
The New Fund will focus on mid-market opportunities which will continue the successful strategy of previous Quadrant funds. Quadrant raised a USD 265 million fund (QPE No. 1) in November 2005 which has invested in seven deals over a period of 18 months.
Since formed the three previous Quadrant Capital funds have generated successful returns with a gross investment IRR on all deals since 1996 to December 2006 totalling 37%.
The senior management team of Quadrant Private Equity, Chris Hadley, George Penklis and Marcus Darville will be expanded with the recruitment of several additional executives.
