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Australia’s Pacific Equity Partners targets Fund V close before year-end

24 Apr 2014

Australia and New Zealand focused Pacific Equity Partners (PEP) has raised A$1.1bn ($1bn) for its fifth fund, which has a final target of A$2.1bn, according to Data Room.

The firm will look to close the fund by the end of the year, with an additional AUD$1bn in co-investment capital to deploy.

Back in 2012 it was reported that the firm was preparing to launch its fifth fund with a A$3.5bn target. PEP’s previous buyout fund was closed with commitments of $4bn in 2008.

The firm is the largest of its kind in Australia and New Zealand, with AUD$6bn under management.

PEP’s focus spans industrial services, energy, consumer products, entertainment, big data and financial services. To date funds managed by PEP have made more than 23 operating company investments, and more than 70 bolt-on acquisitions.

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