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BGH Capital closes AUD2.6bn buyout fund

BGH Capital, a leading private equity firm focused on buyout opportunities in Australia and New Zealand, has successfully closed its first fund, BGH Capital Fund at around AUD2.6 billion after reaching its agreed hard cap.

The fund launched in late 2017 with a target of AUD2.0 billion. This represents the largest ever first-time private equity fund focused on investment in Australia and New Zealand.
 
The fund will invest in a diversified portfolio of investments across Australia and New Zealand leveraging its deep, local sourcing capability. It will seek to invest in companies where there is significant opportunity to support growth or effect operational improvement. The Fund will primarily target mid-market transactions, while maintaining the flexibility to execute large buyouts or smaller growth deals.
 
BGH Capital, which was advised on the fundraising by Kirkland & Ellis, was founded in 2017 by Robin Bishop, Ben Gray and Simon Harle with the objective of creating the pre-eminent private equity firm in Australia and New Zealand. BGH is headquartered in Melbourne, Australia and is an independent firm, owned and managed by its Founding Partners.
 
The Founding Partners have extensive investment experience and a demonstrated ability to build leading investment businesses. Ben Gray established and led the Australian and New Zealand private equity team at TPG Capital and together with Simon Harle, led the investment activity for TPG in Australia. Robin Bishop was previously head of Macquarie Capital, Australia and New Zealand, the region’s largest investment bank with a significant portfolio of principal investments. Together the Founding Partners in their prior firms led approximately AUD3 billion of equity investments across a broad range of industries, with a strong track record of delivering compelling investor returns.   
 
BGH Capital has a large, well-resourced and highly experienced team of over twenty professionals which represents one of the largest private equity teams in the Australian and New Zealand market. The Founding Partners are supported by three additional Partners, Terry Bowen, David Brooks and Stephanie Charles. Terry Bowen, former Finance Director of Wesfarmers Limited leads BGH Capital’s dedicated Operations Group focused on improving the operating performance of the companies in which it invests.
 
The founding partners say: “We are excited to have successfully launched our first fund. Australia and New Zealand is a highly attractive environment for private equity investment, having consistently delivered superior returns relative to other developed markets. We believe that the scale of BGH Capital’s Investment Team, our deep connections and our strong operational capabilities are a key point of differentiation and competitive advantage.”
 

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