Pacific Equity Partners’ push into high-net-worth investor segment via a fund-of-funds offerings has the Sydney firm investing alongside larger private equity outfits.
Pacific Equity Partners’ push into high-net-worth investor segment via a fund-of-funds offerings
The initial pitch offered little on where PEP would be seeking deals to sit alongside its own. But Street Talk’s spotted a recent flyer showing the local private equity group has travelled far and wide in its search of opportunities to invest in other firms’ deals. UP Education, put up for sale from PEP’s Fund V last year via Evercore with a $NZ300 million revenue marker.It has also invested Gateway’s pool of money into continuation funds from Bain’s North American janitorial business Imperial Dade that makes $US5 billion a year on the revenue line and sold a stake to Advent International last year.
Investors who have taken a look said PEP was pulling the investments out of primary, secondary, co-investment and listed deals for the Gateway fund. The closed-ended fund had room for 15 positions, while the open-ended one could go up to 50-plus positions – implying the unit should be busy in the years to come with less than 10 deals squared off.
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