Deal Profile: Quadrant Private Equity closes new Fund at A$850 million
March, 2014 - Melbourne, Australia
Leading Australian buyout firm Quadrant Private Equity has closed its seventh fund at A$850 million a little over a month after launching the capital raising. The Fund attracted significant interest from both domestic and offshore investors, with the best following of foreign investors of any new Australian fund. It was two times oversubscribed.
Partner Nathan Cahill, who with senior associate Robyn Coote and consultant Elizabeth Mifsud advised Quadrant, said it was fantastic to work with another world-class Australian manager that is attracting many leading investors from Australia and around the world. "To achieve a first and final close for a Fund that was heavily oversubscribed by leading investors is testament to the quality managers we have here in Australia and the strong returns that they are generating," he said.
Quadrant's strong track record helped it reach its target quickly. In the past 12 months Quadrant Private Equity finalised the acquisitions of outdoor advertising group APN Outdoor and Zip Industries; took Virtus Health to an IPO; and invested in Perth-based City Farmers, a specialty retailer of pet food, supplies and products, and in Estia Health, a leading aged care operator with over 1,100 beds under management across 10 facilities in Victoria.
The fund manager is a longstanding client of Minter Ellison.
