05
Mar
Australia spotlight: Eyeing a resurgence
Would it be unfair to call Australia the land of the broken process? Certainly, towards the larger end of the market, numerous transactions have been launched only to stumble amid differences of opinion on valuation. More deal flow would help spur fundraising, although Australia is arguably already benefitting from a redirection of allocations that previously went to China. A panel of experienced investors break down the local private equity opportunity, from capital formation through realisation.
- Why – and where – will the market see more sector specialists?
- What are the pros and cons of mid-market GPs becoming multi-strategy?
- Are sales to core-plus infrastructure investors the best exit option?
- How are local players responding to approaches from GP stakes investors?
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SpeakersMaggie Lu Yueyang Associate Editor, M&A, APAC; Australia/New Zealand Bureau Chief MERGERMARKET
Steve Duncan Managing Director TPG CAPITAL ASIA
Rohan Wolfers Managing Director – Private Equity PACIFIC EQUITY PARTNERS
Jeremy Samuel Managing Director ANACACIA CAPITAL
Daren McKennay Partner CRESCENT CAPITAL PARTNERS
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Maggie is Mergermarket’s APAC Associate Editor and Australia/New Zealand Bureau Chief. She joined Mergermarket Australia in 2017 and has since been covering corporate strategy, M&A, and private equity activities as a journalist and an editor. She manages the Australian bureau, supports Mergermarket’s APAC editorial team, and facilitates cross-platform collaboration under ION Analytics between Mergermarket and sister publications including Debtwire and Infralogic. She previously worked at The Australian and Reuters, starting her Australian journalism career at the Federal Parliamentary Press Gallery in Canberra. Maggie has been based in Sydney since 2013.
Steve Duncan is a Managing Director at TPG Capital Asia based in Melbourne and has been with TPG since 2020. Steve is the current Chairman of Made Group, one of Australia’s largest healthy food and beverage businesses. He also sits on the Board of iNova Pharmaceuticals and was previously a director of logistics software company Containerchain.
Prior to joining TPG, Steve worked with CPE Capital across their Australia and Singapore offices for approximately nine years.
Steve holds a B.Commerce (Hons) Finance & Accounting from the University of New South Wales and an MBA jointly issued by Columbia Business School and London Business School.
Rohan joined Pacific Equity Partners in 2010. Before joining PEP, Rohan was with Navis Capital Partners and Merrill Lynch Global Private Equity in Australia, Asia and North America. Rohan received a PLD from Harvard Business School and a Bachelor of Economics from the University of Sydney.
Jeremy Samuel is the founder and Managing Director of Anacacia Capital.
Anacacia manages >$1B investing into leading small-medium enterprises. This includes five series of private equity funds focused on Australasian lower mid-market growth buyouts. Anacacia has won numerous awards including the Australian Investment Council Firm of the Year.
Jeremy is a non-executive director of Anacacia portfolio companies: Sureway, MGI Golf and Opteon. He was the former lead director for Anacacia's successful investments including: Appen, Big River, Home Appliances, Lomb Scientific, Rafferty's Garden and Yumi's Quality Foods.
Jeremy holds an MBA from Yale University School of Management and Arts/Law degrees from the University of NSW.
Daren is the Healthcare Partner at Crescent Capital Partners and has over 30 years’ of operational and private equity experience in the healthcare sector. His past and present healthcare portfolio includes Quantum/Medscan Radiology Group, PRP Diagnostic Imaging, MyHealth, SunDoctors, Nucleus Network, Pinnacle Rehabilitation and Healthcare Australia. Daren was co-founder and Chief Executive Office of LifeHealthcare Group Limited a company Crescent invested in 2006 and successfully exited via an ASX listing in December 2013.
Prior to joining Crescent, Daren’s executive experience spanned a wide range of healthcare businesses where he has held Chief Executive positions in the Acute Private Hospital, Diagnostic Imaging and Medical Device sectors. Daren holds a Bachelor of Business from Edith Cowan University and an MBA from the University of Western Australia. Daren is also a Member of the Institute of Chartered Accountants.
Crescent Capital Partners (Crescent) is a Sydney-based private equity firm investing in middle market companies located in Australia and New Zealand with enterprise values between A$50 million and A$300 million. Crescent was formed in 2000 and has established itself as one of Australasia’s leading mid market private equity firms. Crescent’s investment focus is on high growth companies and sectors, or in industries that are undergoing structural change or that lend themselves to consolidation. Crescent’s role is to accelerate and support the senior management teams of these businesses in reaching their aspirational targets and goals.
Crescent has particular experience and skills in financial services, healthcare, branded and industrial businesses. In particular, Crescent has been the most active private equity manager in healthcare transactions in Australia measured by number of investments made in the past 10 years.