Pacific Equity Partners

Last updated

Pacific Equity Partners
Company type Proprietary limited company
Industry Private Equity
Founded1998;26 years ago (1998)
Founders
  • Simon Pillar
  • Rickard Gardell
  • Paul McCullagh
  • Tim Sims
Headquarters Sydney, Australia
Products
AUM A$10 billion (2022)
Website www.pep.com.au

Pacific Equity Partners (PEP) is a private equity investment firm focusing on transactions in Australia and New Zealand. PEP invests across a range of industries and sectors and in turnaround and growth capital transactions.

Contents

The firm is based in Sydney, Australia, and was founded in 1998 by Rickard Gardell, Paul McCullagh, Simon Pillar and Tim Sims. All but McCullagh previously worked together as executives at Bain & Company. [1] [2]

The firm has generated several buyout funds for investors. By 2022, these funds had $8.6 billion under management. [3] The launch of a continuation fund that year lifted that figure to $10 billion, making the company Australia's largest private equity firm, according to Australian Financial Review . [4]

In 2023, the firm announced its first "Gateway fund" which it described as a mechanism by which private investors may access global private equity investing, with reduced initial investment requirements. [5] In this approach, capital is distributed into PEP funds alongside funds from high-end global private equity firms such as Bain Capital and Leonard Green & Partners. [6]

The firm is reported to be launching its seventh buyout fund (Fund VII) sometime in 2024, with current investment expectations of A$3 billion, which would make it one of the largest Australian funds of its kind. [7]

Investments

Frucor, who now produce Mizone drinks, was the first investment made by the firm. Mizone.jpg
Frucor, who now produce Mizone drinks, was the first investment made by the firm.

Since its establishment in 1998, the firm is said to have completed 40 private equity buyouts by 2023. [8] Apart from buying and operating large companies, PEP has made 100 "bolt-on" acquisitions in the same 25-period, these are smaller firms, bought and merged with portfolio companies, for their strategic value. [9] Some of the firm's recent investments have included Patties Foods, [10] iNova Pharmaceuticals, [11] the medical devices group LifeHealthcare, [12] the smart metering company IntelliHUB, [13] and Evolution Healthcare. [14]

PEP claims to have "at least doubled" investor monies in 12 of its previous 13 deals, which have included the purchase, restructure and resale of several Australian and New Zealand companies such as Spotless, Hoyts and Frucor. [8] [15] The sale of Patties being the one of 13 resales where they did not meet their "doubled" standard, due to low post-Covid earnings for that food group. [16]

Investment products

PEP invites investors to access the value their corporate acquisitions generate. This is through five product sets, described as "investment strategies." [17] [18]

  1. Private Equity—traditional flagship buyout fund. [19] Its most recent buyout being the allied health company Healthia in December 2023. [19] As of 2024, there have been seven funds in this strategy, of which Fund I, II and III have been completed, Fund IV, V and VI are full invested, and Fund VI is open. [19] [8]
  2. Secure Assets—spun out of private equity fund, focusing on infrastructure-like companies with protected cashflows. [20] Two funds have been established in the strategy, SAF I and SAF II. [21] [22] One of the investors in the latter is the Clean Energy Finance Corporation. [21]
  3. Capital Solutions—a private debt strategy, sold with management input, plus senior secured loans. [18] The funds in this strategy offer a portfolio of loans offered to mid sized businesses in Australia and New Zealand. [18]
  4. Single Assets—trophy single assets from comingled fund put into its own continuation vehicle. [23] Target investments in these group have included Intellihub. [23]
  5. PEP Gateway—a portfolio of premium global private equity funds with a lower initial investment requirement. [24] Here, private investors may investing in a "fund of funds", accessing larger private equity outfits such as Bain Capital, Brookfield Corporation and Carlyle Group. [23]

PEP Gateway is the firm's most recent investment strategy, launched in 2023. [23]

Target investments as of 2024

The following schedule indicates the businesses PEP has targeted and acquired and which they continue to own and manage, current to February 2024.

InvestmentYear AcquiredDescription of TransactionRef.
Zenith Energy2020Public to Private. Agreed in March 2020, with PEP acquiring the thermal and sustainable power company at $1.01 per share, valuing Zenith's equity at A$150 million at that point. Business now held in the PEP fund known as "SAF I." [25] [26]
Magentus2020Public to Private. The health technology formerly known as Citadel Group ASX was delisted in deal led by PEP, as part of a $500 million transaction. Business now held in a fund known as Fund VI. [27] [28]
Modern Star2020Secondary buyout. Educational resources company acquired in September 2020, valuing its assets at $600 million. Now held in a PEP fund known as Fund VI. [29]
Healthe Care2021Corporate Carve-out. The private hospital business had been part of China-owned Luye Pharma Group (which retained the Mental Health service arm, renaming it Aurora Healthcare). Now held in a PEP fund known as Fund VI. [30]
Agright2022Private Vendor. New Zealand based poultry business acquired into the secure assets fund known as SAF I. [31] [7]

[32]

Intellihub2022Secondary. The 'smart metering' business Smart Metering Fund. Held in the PEP fund known as SAF II. [33] [34]
Cranky Health2022Private Vendor. PEP acquired controlling stake in the weight loss products business, with Adam MacDougall retaining his minority stake. Valuation said to be $200 million, or 10 to 12 times earnings. Held in Fund VI. [35]
Altus Traffic2022Private Vendor. Traffic management business sold by its founder and chair David Lundberg, for what was said to be $200 million, then on-sold 50% of equity to Brookfield Corporation at $3 billion including debt. Stake is held in Fund VI. [36]
iNova Pharmaceuticals2022Corporate Multinational Carve-Out. Co-investment with TPG Inc. in the consumer healthcare products, its value estimated at $2 billion. Held in fund known as Fund VI. [8] [37]
UP Education2023Secondary. Australasian private education provider with 30 campuses was first purchased by PEP in 2016, following leveraged buy out, valued at NZ$540 million in 2023, it has been held in the fund known as Education SPV. [38] [39] [40]

Past investments

Hoyts was held as an investment for eight years, before being sold to Wanda Cinemas. Hoyts Greensborough Plaza 2012.jpg
Hoyts was held as an investment for eight years, before being sold to Wanda Cinemas.
Peters Ice Cream is an Australian heritage brand, which PEP sold to the British group, Froneri, in 2014. Old Peters Ice Cream advertisement, Old Gippstown.JPG
Peters Ice Cream is an Australian heritage brand, which PEP sold to the British group, Froneri, in 2014.
Allied Mills, a major supplier of flour to Australian bakeries, was sold to Nissin Foods in 2019. BK64AXV Allied Mills DAF.jpg
Allied Mills, a major supplier of flour to Australian bakeries, was sold to Nissin Foods in 2019.

The firm's previous investments were dominated by companies in the food and beverages sector, such as Independent Liquor (sold to Asahi Breweries in 2011), [41] Griffin's Foods (acquired from Danone in 2006 and sold to Universal Robina in 2014), [42] Frucor (sold to Suntory in 2008), Peters Ice Cream (sold to Froneri in 2014) and Tegel Foods (acquired in 2005 from Heinz and sold to Affinity Equity Partners in 2011). [43]

Previous Investments
InvestmentsYear AcquiredDescription of TransactionRef.
Hoyts2007Purchase valued Hoyts' Australian and New Zealand operations at $440 million, then on-sold to Wanda Cinemas in 2015. [44]
Independent Liquor2006Purchased in partnership with Unitas Capital for $600 million, later sold to Asahi Breweries for $1.3 billion. [45]
Griffin's Foods 2006Acquired from Danone in 2006 and sold to Universal Robina in 2014. [46]
Frucor 1998The first investment made by the firm. Purchased for $NZ67 million, later sold to Suntory in 2008. [47]
Peters Ice Cream 2012Terms of the deal not disclosed. Sold to Froneri in 2014 for just under $450 million. [48]
Tegel Foods 2005Acquired from Heinz for $250 million, later sold to Affinity Equity Partners in 2011 for $600 million. [49]
WINconnect2019Purchase of community energy network provider for deal understood to be worth around $100 million. Purchased by Origin Energy in 2021. [50] [51]
Manuka Health2015Sold in 2018 for NZ$300 million. PEP first purchased Manuka in 2015 and made key changes including expanding the company's operations and leading an industry reform to standardise honey grades, allowing better transparency on quality and reducing counterfeiting. This work gained industry recognition in 2018 for quality management and responsible investing. [52] [53]
Allied Pinnacle2015-17Acquired Pinnacle Bakery & Integrated Solutions ($200 million), a maker of bakery ingredients and frozen baked products, from Kerry Group in 2015, before adding Allied Mills ($455 million, including debt) in March 2017. Sold to Japan's Nissin Foods in February 2019. [54]
ACG 2015NZ private education provider. Divested in 2018 to UK-based Inspired Education Holdings. [55] [56]

History and culture

Pacific Equity Partners is based in Deutsche Bank Place, close to Sydney Harbour Deutsche Bank Place (30855148452).jpg
Pacific Equity Partners is based in Deutsche Bank Place, close to Sydney Harbour

Pacific Equity Partners was founded in Sydney, Australia, in 1998. [57] The founders came from the consulting and banking sectors: Rickard Gardell, Tim Sims, Simon Pillar all from Bain & Company; and Paul McCullagh, from Salomon Brothers. [58] While McCullagh stepped back from management operations in 2017, as of 2023 all four had remained in the partnership. [58]

Some industry commentators have described PEP as having an 'apprenticeship' culture, with long-standing founders and senior staff deliberately hiring junior employees, as it enables cultural formation within the firm over a long tenure. [8] Staff longevity and team-based approaches to deals, likened to a management consulting ethos, may have helped make the firm distinctive in its market. [59] [8]

The company's headquarters are in Deutsche Bank Place, Sydney, the first building in the Southern Hemisphere designed by Sir Norman Foster. [60] [61]

Related Research Articles

The Carlyle Group Inc. is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2023 ranking however, it had slipped to fifth place.

In the field of finance, private equity (PE) is capital stock in a private company that does not offer stock to the general public. Private equity is offered instead to specialized investment funds and limited partnerships that take an active role in the management and structuring of the companies. In casual usage, "private equity" can refer to these investment firms rather than the companies that they invest in.

<span class="mw-page-title-main">Venture capital</span> Form of private-equity financing

Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc.. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and they are often from high technology industries, such as information technology (IT), clean technology or biotechnology.

<span class="mw-page-title-main">Kohlberg Kravis Roberts</span> American investment manager

KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. As of December 31, 2023, the firm had completed more than 730 private equity investments in portfolio companies with approximately $710 billion of total enterprise value. As of December 31, 2023, assets under management (AUM) and fee paying assets under management (FPAUM) were $553 billion and $446 billion, respectively.

<span class="mw-page-title-main">Blackstone Inc.</span> American alternative investment company

Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. As of June 2023, the company's total assets under management were approximately US$1 trillion, making it the largest alternative investment firm globally.

<span class="mw-page-title-main">TPG Inc.</span> American investment company

TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care. TPG became a public company in January 2022, trading on the NASDAQ under the ticker symbol “TPG”.

Bain Capital, LP is an American private investment firm based in Boston, Massachusetts. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, crypto, tech opportunities, partnership opportunities, special situations, and real estate. Bain Capital invests across a range of industry sectors and geographic regions. The firm was founded in 1984 by partners from the consulting firm Bain & Company. The company is headquartered at 200 Clarendon Street in Boston with 22 offices in North America, Europe, Asia, and Australia.

<span class="mw-page-title-main">CVC Capital Partners</span> British private equity and investment advisory firm

CVC Capital Partners is a Luxembourg-based private equity and investment advisory firm with approximately €186 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European and Asian private equity, secondaries, credit funds and infrastructure. As of 31 December 2021, the funds managed or advised by CVC are invested in more than 100 companies worldwide, employing over 450,000 people in numerous countries. CVC was founded in 1981 and, as of 31 March 2022, has over 850 employees working across its network of 25 offices throughout EMEA, Asia and the Americas.

Goldman Sachs Asset Management Private Equity is the private equity arm of Goldman Sachs, focused on leveraged buyout and growth capital investments globally. The group, which is based in New York City, was founded in 1986.

<span class="mw-page-title-main">Equity co-investment</span>

An equity co-investment is a minority investment, made directly into an operating company, alongside a financial sponsor or other private equity investor, in a leveraged buyout, recapitalization or growth capital transaction. In certain circumstances, venture capital firms may also seek co-investors.

In finance, the private-equity secondary market refers to the buying and selling of pre-existing investor commitments to private-equity and other alternative investment funds. Given the absence of established trading markets for these interests, the transfer of interests in private-equity funds as well as hedge funds can be more complex and labor-intensive.

<span class="mw-page-title-main">Madison Dearborn Partners</span> American private equity firm specializing in leveraged buyouts

Madison Dearborn Partners (MDP) is an American private equity firm specializing in leveraged buyouts of privately held or publicly traded companies, or divisions of larger companies; recapitalizations of family-owned or closely held companies; balance sheet restructurings; acquisition financings; and growth capital investments in mature companies. MDP operates using an industry-focused investment approach and focuses on the following sectors: basic industries, business and government software and services, financial & transaction services, health care, and TMT services. Since the founders established MDP as an independent firm in 1992, the firm has raised seven funds with aggregate capital of approximately $23 billion, and has completed investments in more than 130 companies.

Silver Lake, legally Silver Lake Technology Management, L.L.C., is an American global private equity firm focused on technology and technology-enabled investments. Silver Lake is headquartered in Silicon Valley and New York, and has offices in London, Hong Kong, and Singapore.

<span class="mw-page-title-main">Apollo Global Management</span> American private equity company

Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.

Lexington Partners is one of the largest manager of secondary acquisition and co-Investment funds in the world, founded in 1994. Lexington manages approximately $55 billion of which an unprecedented $14 billion was committed to the firm's ninth fund, the largest dedicated secondaries pool of capital ever raised at the time.

AlpInvest Partners is a global private equity asset manager with over $85 billion of committed capital since inception as of December 31, 2022. The firm invests on behalf of more than 450 institutional investors from North America, Asia, Europe, South America and Africa.

<span class="mw-page-title-main">Thoma Bravo</span> American private equity firm

Thoma Bravo, LP, is an American private equity and growth capital firm based in Chicago. It is known for being particularly active in acquiring enterprise software companies and has over $130 billion in assets under management as of 2023.

<span class="mw-page-title-main">Private equity in the 1990s</span>

Private equity in the 1990s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital, experienced growth along parallel although interrelated tracks.

<span class="mw-page-title-main">Private equity in the 2000s</span>

Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital expanded along parallel and interrelated tracks.

EQT Private Capital Asia (formerly known as Baring Private Equity Asia, BPEA and BPEA EQT) is an Asian investment firm headquartered in Hong Kong. It was founded in 1997 as an affiliate of Barings Bank before becoming an independent firm in 2000. In 2022, it was acquired by EQT Partners to act as its Asian investment platform. EQT Private Capital Asia is one of the largest private equity firms in Asia.

References

  1. ↑ "Australia's Private-Equity Deals for the New Year". Wall Street Journal. Retrieved 15 June 2022.
  2. ↑ Wilson, Drew. "Privately Speaking: Tim Sims of Pacific Equity Partners". Private Equity International. Retrieved 15 June 2022.
  3. ↑ Thomson, James (2 May 2022). "PEP's $10b moment heralds private equity's new era". Australian Financial Review .
  4. ↑ Mendoza, Carmela (24 July 2018). "Pacific Equity Partners on why the Australian mid-market is thriving". Private Equity International. Retrieved 10 April 2019.
  5. ↑ "Pacific Equity Partners invites the wealthy into 'privileged' PE club". Australian Financial Review. 28 May 2023. Retrieved 23 February 2024.
  6. ↑ Weinman, Aaron (7 November 2023). "Fund that returned 23pc targets billions in investment". Australian Financial Review. Retrieved 19 November 2023.
  7. 1 2 "PEP prepares biggest fund to date, pitches proven money-making prowess". Australian Financial Review. 30 October 2023. Retrieved 23 February 2024.
  8. 1 2 3 4 5 6 "The 'apprenticeship' culture that drives Australia's biggest PE firm, Pacific Equity Partners". Australian Financial Review. 30 July 2023. Retrieved 14 September 2023.
  9. ↑ Mendoza, Carmen. "Pacific Equity Partners on why the Australian mid-market is thriving". Private Equity International. PEI Media.
  10. ↑ “PEP in advanced discussions to acquire ASX listed Patties Foods” "Australian Financial Review", 29 May 2016.
  11. ↑ “iNova sold to PEP, the Carlyle Group” "Australian Financial Review", 9 June 2017.
  12. ↑ “Allens advises PEP on acquisition of LifeHealthcare” from Allens Media Release, 25 May 2018.
  13. ↑ “Landis+Gyr and Pacific Equity Partners announce joint venture for acquisition of acumen metering business” from Landis+Gyr media release, 24 May 2018.
  14. ↑ “North Island Hospitals sold to new Australian Owners” in Stuff.co.nz on 25 September 2018.
  15. ↑ Cole, BRETT (24 February 2014). "PEP yet to ask banks for Spotless pitches". The Australian.
  16. ↑ Carter, Bridget (2 February 2022). "Pandemic takes toll on consumer goods deals; Patties sale pushed back". The Australian. Retrieved 14 September 2023.
  17. ↑ Kitney, Damon (4 June 2023). "The smart money's on artificial intelligence". The Australian .
  18. 1 2 3 "Pacific Equity Partners unveils new strategy: capital solutions". Australian Financial Review. 25 March 2021. Retrieved 9 May 2024.
  19. 1 2 3 "How to pull off a seamless private equity buyout". Australian Financial Review. 8 January 2024. Retrieved 9 May 2024.
  20. ↑ "Pacific Equity Partners' gun SAF team seek exclusivity on $1b deal". Australian Financial Review. 20 July 2023. Retrieved 9 May 2024.
  21. 1 2 "PEP hits $1.4b for second secure assets fund, CEFC tips in". Australian Financial Review. 7 May 2023. Retrieved 9 May 2024.
  22. ↑ "Pacific Equity Partners' gun SAF team seek exclusivity on $1b deal". Australian Financial Review. 20 July 2023. Retrieved 9 May 2024.
  23. 1 2 3 4 "PEP Gateway fund-of-funds goes in with Bain, Brookfield and Carlyle". Australian Financial Review. 18 April 2023. Retrieved 9 May 2024.
  24. ↑ "Pacific Equity Partners invites the wealthy into 'privileged' PE club". Australian Financial Review. 28 May 2023. Retrieved 9 May 2024.
  25. ↑ "Pacific Equity Partners' gun SAF team seek exclusivity on $1b deal". Australian Financial Review. 20 July 2023. Retrieved 23 February 2024.
  26. ↑ "Private equity comes for listed power play Zenith Energy". Australian Financial Review. 8 March 2020. Retrieved 23 February 2024.
  27. ↑ Stensholt, John (12 June 2023). "Catching 'falling knives' delivers $1bn success". The Australian.
  28. ↑ Leung, Edith (20 February 2024). "Q&A: Australia's Pacific Equity Partners on take-privates, carve-outs, continuation funds". ION Analytics. Retrieved 23 February 2024.
  29. ↑ "Biebs alert! PEP taps new fund, two lenders for Modern Star". Australian Financial Review. 7 September 2020. Retrieved 23 February 2024.
  30. ↑ Carter, Bridget (11 July 2023). "Pacific Equity Partners gets ready for Aurora Healthcare auction". The Australian.
  31. ↑ Carter, Bridget (4 April 2023). "Pacific Equity Partners walks away from $900 Serenitas buy". The Australian.
  32. ↑ "PE hotshots: The top 20 under 40 in 2021". Australian Financial Review. 28 December 2021. Retrieved 23 February 2024.
  33. ↑ "ESG Loan: Intellihub's A$1.45bn green financing | IFR". IFRe. Retrieved 23 February 2024.
  34. ↑ "Pacific Equity Partners targets mid-market infrastructure decarbonisation - Clean Energy Finance Corporation". www.cefc.com.au. Retrieved 23 February 2024.
  35. ↑ "Pacific Equity Partners sips on The Man Shake owner Cranky Health". Australian Financial Review. 30 January 2022. Retrieved 23 February 2024.
  36. ↑ Loussikian, Kylar (22 August 2022). "PEP snaps up Altus Traffic, more M&A afoot". The Australian.
  37. ↑ "TPG Capital to buy iNova for $2b-plus; PEP to co-invest". Australian Financial Review. 26 July 2022. Retrieved 23 February 2024.
  38. ↑ "Overseas investment decision for case 202300267 - UP Education Bidco Limited | Toitū Te Whenua - Land Information New Zealand". www.linz.govt.nz. 23 June 2023. Retrieved 23 February 2024.
  39. ↑ "Australia's Pacific Equity Partners closes $265m continuation fund: Report". DealStreetAsia. Retrieved 23 February 2024.
  40. ↑ Croft, Lauren (10 August 2022). "Up Education Group receives NZ$540m funding injection". www.lawyersweekly.com.au. Retrieved 23 February 2024.
  41. ↑ "Asahi to Buy New Zealand Liquor Company". DealBook. 18 August 2011. Retrieved 9 April 2019.
  42. ↑ "Pacific Equity buys Griffin's Foods". The Age. 1 April 2006. Retrieved 9 April 2019.
  43. ↑ "Pacific Equity Mulling Options for Tegel Foods". DealBook. 20 August 2010. Retrieved 9 April 2019.
  44. ↑ "Hoyts to be sold to private equity group". ABC News. 24 September 2007. Retrieved 18 March 2024.
  45. ↑ Dealbook (18 August 2011). "Asahi to Buy New Zealand Liquor Company". DealBook. Retrieved 18 March 2024.
  46. ↑ "Pacific Equity buys Griffin's Foods". The Age. 1 April 2006. Retrieved 18 March 2024.
  47. ↑ Anand, Sameera (27 October 2008). "Suntory wins Danone's Frucor business". FinanceAsia. Retrieved 18 March 2024.
  48. ↑ "PEP jettisons Peters Ice Cream for close to $450m". Australian Financial Review. 27 May 2014. Retrieved 18 March 2024.
  49. ↑ McNabb, Denise. "PEP eyes big NZ poultry investment". businessdesk.co.nz. Retrieved 18 March 2024.
  50. ↑ Evans, Lauren (20 December 2021). "Origin Energy (ASX:ORG) to acquire WINconnect for $42.4m". Finance News Network. Retrieved 18 March 2024.
  51. ↑ "PEP gets energised ahead of long Village Roadshow tilt". Australian Financial Review. 19 December 2019. Retrieved 18 March 2024.
  52. ↑ "AVCJ Awards 2018: Responsible Investment: Manuka Health | AVCJ". www.avcj.com. 18 December 2018. Retrieved 18 March 2024.
  53. ↑ "Pacific Equity Partners secures sale for Manuka Health; ANZ advises buyer". Australian Financial Review. 27 September 2018. Retrieved 18 March 2024.
  54. ↑ "PEP secures just under $1b for flour, baked goods maker Allied Pinnacle". Australian Financial Review. 27 February 2019. Retrieved 18 March 2024.
  55. ↑ "Education business returns capital despite pandemic". Private Equity Media. Retrieved 18 March 2024.
  56. ↑ Hancock, Farah (22 June 2018). "Sale rumoured for prestige schools". Newsroom. Retrieved 18 March 2024.
  57. ↑ "This float could create Australia's first private equity billionaire". Australian Financial Review. 3 May 2022. Retrieved 18 October 2023.
  58. 1 2 Glascow, Will; Lacy, Christine (21 December 2017). "Paul McCullagh steps back at Pacific Equity Partners". The Australian.
  59. ↑ "Where I'm putting the money: Pacific Equity Partners' Tim Sims on why he thinks we're past the worst". Forbes Australia. 3 July 2023. Retrieved 23 February 2024.
  60. ↑ "Eye spy from the glass sky of snappy Deutsche Bank Place". Australian Financial Review. 1 September 2005. Retrieved 9 May 2024.
  61. ↑ "Towers of power". Australian Financial Review. 14 April 2007. Retrieved 9 May 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.