If it can retain its track record of 16 per cent annual returns, the Pantheon fund would beat PE funds launched by KKR, Apollo and HarbourVest in Australia.
London’s Pantheon has made a killing investing alongside the likes of Allegro Funds, Pacific Equity Partners and TPG Capital in buyouts of Australian companies. Now, it’s ready to test its pitch of picking the best global mid-market deals with a fund tailored for local investors.
The $US67 billion ($103.7 billion) private capital player has given Sydney’s Longreach Capital the green light to raise an Australian fund that would feed into its Luxembourg-domiciled Pantheon Global Private Equity. That fund is a successor to an older $US4.1 billion ($6.4 billion) strategy that has delivered 16.15 per cent per annum over the past five years and 13.69 per cent since inception in 2014.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
