Zimmermann’s PE owners to open Australian office
Advent International has set its sights on local private equity rainmakers to set up its first Australian office, the latest sign that global buyout giants are ready to transact after a tepid year for private equity-backed mergers and acquisitions.
The Boston-headquartered investor’s local tilt follows its acquisition of Sydney fashion brand Zimmermann last August – the sole Australian asset in its portfolio. Advent’s decision to consider setting up a beachhead comes as private equity firms look to reposition their Asia-Pacific portfolios toward more Australian and Indian companies, and shrink their exposure to Chinese buyouts.
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