PEP’s buyout strategy is run by three of the firm’s most experienced dealmakers.
Already a subscriber?Pacific Equity Partners’ buyout team – led by David Brown, Tony Duthie and Shannon Wolfers – has ruled off a first close for its latest fundraise at more than $1.5 billion.“There has been strong demand from both existing and new investment partners, and we have held an early access close for Fund VII on 16 April 2024,” PEP told investors on Friday.
“We expect to close more than $1.5 billion of the $3 billion target in the coming weeks and at this stage are pleased to see substantial cover on the balance of the fund.”PEP was primed to start 2024 in a big way, preparing to launch its seventh buyout fund in what was expected to mark the biggest fundraising so far for Australia’s largest private equity firm.
The firm, which has proved to be an established moneymaker for investors over the past 25 years, now has $8.8 billion under management and more than 40 buyouts under its belt. It at least doubled investors’ money in 12 of its past 13 deals .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.
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