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Anchorage closes Capital Partners Fund II on AUD250m

Anchorage Capital Partners, the Sydney based private equity firm focusing on special situations and turnaround investment in the Australian, New Zealand and Southeast Asian markets, has held the first and final closing of Anchorage Capital Partners II at AUD250m.

Significant interest from both existing and new investors meant that the fund was oversubscribed and capped at AUD250m.
 
Anchorage maintained the strong local market support evidenced in prior fundraising efforts, with over 50 per cent of fund commitments sourced from Australian institutions. Offshore limited partners, comprising a select group of institutional investors from Asia, Europe and the US, provided the balance of the commitments.
 
Consistent with the Anchorage Capital Partners I investment mandate, the fund will seek controlling investments in underperforming Australian, New Zealand and Southeast Asian businesses, with enterprise values typically between AUD50m and AUD250m. Anchorage believes that the middle market will continue to provide attractive turnaround opportunities throughout the investment period of Fund II and beyond.
 
To date, Anchorage Capital Partners I has made six investments and distributed over AUD60m to Fund I investors.
 
MVision Private Equity Advisers acted as global placing agent for both Fund I and II. Minter Ellison acted as legal adviser and Ernst & Young acted as tax adviser to Anchorage. 

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