Pinnacle Investment Management launches private equity firm

Sydney-based Pinnacle Investment Management has announced the establishment of Pinnacle Private Equity to manage a new mid market private equity fund, the Pinnacle Private Equity Fund.

Pinnacle Private Equity will raise USD300m to invest in high growth companies which have an enterprise value of up to USD200m each.

Pinnacle Investment Management already comprises five other boutiques - Solaris, Plato, Resolution Capital, Hyperion, and Palisade - managing in the order of USD4bin.

Pinnacle Private Equity is a partnership between Pinnacle and Bill Cook and Peter Ludemann, former members of the AMP Capital Investors private equity team, who will be joint managing partners of the new firm.

The investment team will be majority (70 per cent) owners of the business with Pinnacle owning 30 per cent

Ian Macoun, Pinnacle's managing director (photo), says: 'The opportunity to offer our investors a private equity capability, by joining forces with a very experienced, established management team of the highest calibre, has proved to be extremely compelling, in fact irresistible.

'The current challenging economic and business conditions will present outstanding opportunities for experienced private equity professionals to make high quality investments in the mid market segment at attractive valuations. We believe that 2009 will be an excellent vintage for private equity investment, perhaps one of the best ever.'

Pinnacle Private Equity Limited will commence marketing the new fund to Australian and international investors in March of this year.