The 19th Annual AVCJ Private Equity & Venture Forum - Australia & New Zealand successfully took place in Sydney and online on 20-22 June.
The conference, which focused on finding and executing attractive deals and exits at a time of global market instability kicked off with a keynote session featuring The Hon. Ambassador Joe Hockey (Ret.), Founding Partner & President at Bondi Partners in conversation with Tim Sims, Managing Director - Buyout and Secure Assets, Capital Solutions, Gateway, Founding Partner at Pacific Equity Partners.
The forum also featured leading executives from QIC, Brookfield, Aware Super, IFM Investors, NZ Super Fund, Blackstone, HESTA, Australian Retirement Trust and Quadrant Private Equity speaking on a number of well-researched topics including the impact of macro conditions on the industry and finding defensive investments in the current environment, ESG and the roadmap to a net zero portfolio, the increasing cross-over of private equity and infrastructure, the rise of private wealth as LPs in funds, private debt strategies that offer the best opportunities in 2023, the next stage in venture capital and strategies LPs are employing for manager selection and portfolio balancing.
The 20th Anniversary AVCJ Australia & New Zealand Forum will return to Sydney on 7-9 March 2023.
Established in 1998, Pacific Equity Partners (PEP) invests through control positions in leading Australian and New Zealand based companies, typically with enterprise values in the range of A$200M-A$1B+. Operating company management teams are supported with focused governance, capital and resources in order to achieve full potential.
PEP has made 36 operating company investments and over 120 bolts-ons and joint venture acquisitions at the company level. PEP has managed ~A$9B of equity funds over the last 20 years, and recent investments have included industrial, energy, food, consumer products, healthcare, entertainment/media, pharmaceuticals and financial services businesses which have employed over 50,000 people.
PEP Fund VI closed in July 2020 at the hard cap of A$2.5B, and the Secure Assets Fund closed in June 2020 at A$360M.
PEP has been among the best performers in the private equity industry worldwide and has been included in the list of Top 20 Consistent Performers Globally by Preqin. The firm has also been recognised with various awards, including Firm of the Year, Best LBO Deal of the Year and Australian Private Equity Firm of the Year and an AVCJ Responsible Investing Award (2018), AIC Investing for Growth Award (2019) and AVCJ Exit of the Year – Mid Cap (2019) for Manuka Health.
KPMG is a global organisation of independent professional firms, providing a full range of services to organisations across a wide range of industries, governments and not-for-profit sectors. We operate in 146 countries and territories and have more than 227,000 people working in member firms around the world. In Australia, KPMG has a long tradition of professionalism and integrity combined with our dynamic approach to advising clients in a digital-driven world.
Adams Street Partners is a global private markets investment manager with investments in more than thirty countries across five continents. Adams Street’s 90+ investment professionals focus on five strategies: primary fund partnerships, secondary transactions, co-investments, direct growth equity company investments, and private credit deals. Adams Street strives to generate actionable investment insights across market cycles by drawing on 50 years of private markets experience, proprietary intelligence, and trusted relationships. The firm is 100% employee-owned and has $51 billion in assets under management. Adams Street maintains a worldwide presence with offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.
Anacacia Capital is a leading Australian private equity firm focused on mid-market growth buyouts. The firm has won numerous awards including the 2019 Australian Investment Council Firm of the Year and 2019 Best Small Cap Investment of the Year.
Anacacia manages >A$600m and invests into established small-medium enterprises that are managing ownership change and growth. The firm’s private equity funds make buyout and control investments into unlisted companies. The firm also manages the synergistic Wattle Fund that can follow up with minority investments into small listed companies. Anacacia provides strategic insight and capital to outstanding management teams to help these businesses achieve better growth and diversification.
Anacacia typically focuses on companies with annual revenues of $20 to $300 million and has formerly led investments in successful businesses including Appen, Big River, Home Appliances, Lomb Scientific, Rafferty’s Garden and Yumi’s Quality Foods.
Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.
Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a gold rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 2% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.
Coller Capital, founded in 1990, is one of the world's leading investors in the secondary market for private assets – and widely acknowledged as an innovator at the complex end of secondaries.
The firm provides liquidity solutions to private markets investors worldwide, acquiring interests in private equity, private credit, and other private markets assets. With headquarters in London, and offices in New York and Hong Kong, Coller’s multinational investment team has a truly global reach.
In January 2021, the firm closed Coller International Partners VIII, with committed capital (including co-investment vehicles) of just over $9 billion and backing from over 200 of the world’s leading institutional investors.
In February 2022 the firm closed Coller Credit Opportunities I, with committed capital (including co-investment vehicles) of $1.45 billion and backing from over 30 institutional investors.
Founded in 2013 and with A$130M+ FUM, Folklore is a leading Australian VC firm investing in early (predominantly seed) stage companies with software at their core.
The Folklore team is made up of founders, operators and investors committed to supporting the next generation of Australian and New Zealand tech founders building global success stories. As a ‘first cheque to forever’ firm, Folklore aims to be the first VC into its portfolio companies and to allocate through the investment stages of its most successful investments, across sectors including B2B software, healthtech, edtech, robotics and automation, and decentralised technology.
Folklore is known for its investment rigour and allocating discipline, and has invested two funds – both of which are performing amongst the top 5% of early-stage VC funds globally. It is currently closing preferred institutional partners for Fund 3.
OneVentures is one of Australia’s leading venture capital firms, with $400 million in funds under management across technology and healthcare.
The Investment Team has helped create 4 Nasdaq and several ASX listed companies, realising significant returns to investors. The firm actively shapes the futures of companies with truly innovative products - companies tackling multi-billion-dollar world problems, from needle-free vaccinations to next-generation learning technologies to business intelligence. Game changers, that deliver lasting gains.
Square Peg supports outstanding early stage tech founders across Australia, Israel and South East Asia. They are an experienced team who have invested over US$1bn and who have deep alignment with founders and investors. The geographies they operate in have attractive tech thematics with Australia seeing a virtuous tech cycle that is building momentum, Israel ranking top three in the world for innovation and South East Asia combining favourable demographics with an inflection point in tech growth. Importantly for their investors, Square Peg has delivered a strong track record of performance including three IPOs and five acquisitions of portfolio companies. Since inception, they have achieved a gross IRR of 37% and a gross TVPI of 2.9x and have now distributed US$460m to investors.
Telstra Ventures identifies what’s next, right now. Telstra Ventures serves extraordinary leaders and helps them achieve their dreams. In our first ten years, 88+ investments have generated 34 liquidity events including Auth0, BigCommerce, Box, Cloopen, CrowdStrike, DocuSign, Rancher, Skillz, Snap, and Whispir. To date, our Revenue Bearing Relationships™ have driven more than US$450 million in revenue, extending the reach of our portfolio companies across Australia and Asia. In 2018, Telstra Ventures transformed into a venture capital firm backed by LPs including HarbourVest, the US$98B AUM private equity investment platform, and Telstra, the US$30B market capitalization communications services company, headquartered in Australia.
Vista is a leading global investment firm with more than $93 billion in assets under management as of December 31, 2021. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity.
Tracing their history to 1928, Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,400 clients in more than 60 countries. They manage around AUD 1.9 trillion of client assets firmwide, including AUD 44 billion in alternatives. As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, and alternative strategies as well as private assets. With over 900 investment professionals located in offices around the world, Wellington pairs deep multi-disciplinary research resources with independent investment teams operating in an entrepreneurial “boutique” environment.
Wellington Management opened their Sydney office in 1997 to reflect their strong commitment to the Australian and New Zealand markets. Their clients include many of Australia and New Zealand’s biggest superannuation schemes, insurers, financial intermediaries, family offices, endowments and foundations, as well as public sector funds.
Their private equity team includes specialists who draw on their backgrounds as entrepreneurs, doctors, and scientists. They tap into the firm’s broad investment capabilities, and believe their reputation, deep industry expertise, and asset size attract a wide range of potential private investments. They invest globally in a wide range of deals across the private market spectrum and are able to invest in small private companies as well as participate in large capital raises.
All figures are for the Wellington Management Group of companies as of 31 December 2021.
Datasite is a leading SaaS provider for the M&A industry, empowering dealmakers around the world with the tools they need to succeed across the entire deal lifecycle. For more information, visit www.datasite.com
The Institutional Limited Partners Association (ILPA) is the leading global, member-driven organization dedicated to advancing the interests of private equity limited partners through industry-leading education programs, independent research, best practices, networking opportunities and global collaborations. Initially founded as an informal networking group, the ILPA is a voluntary association funded by its members. ILPA membership has grown to include almost 400 organizations from around the world representing almost 50% of global institutional assets under management in private equity.
Vantage Asia produces Law.asia, a leading online resource for in-house counsel and lawyers in private practice. It also publishes three market-leading magazines, Asia Business Law Journal, China Business Law Journal and India Business Law Journal, which provide in-depth analyses of legal and regulatory challenges facing domestic and international businesses around the region. firstname.lastname@example.org