Pacific Equity Partners eyeing monster Australian fundraise


Australian private equity giant Pacific Equity Partners plans to raise up to A$3.5bn ($3.6bn) for its latest buyout fund, it is understood.

Co-founder Tim Sims, pictured, told The Australian newspaper the firm’s fifth fund would aim to collect about $2bn of core equity and up to $1.5bn in co-investment cash.

Such a fundraise would outstrip the capital raised by every other Australian private equity fund put together last year, with the biggest raise Archer Capital’s A$1.5bn fifth vehicle.

Pacific Equity gathered $4bn for its last buyout fund in 2008.

Sims said the fundraise would probably begin in the second or third quarter of 2013.

Earlier this year Pacific Equity agreed to buy Nestle Australia’s Peters Ice Cream business for an undisclosed sum.

The company, which was founded 105 years ago and sells top-selling brands such as Drumstick and Eskimo Pie, is reported to be worth more than A$300m ($307m).

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