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Laxman Pai, Opalesque Asia: Private equity and venture capital firms have amassed a record AUS$30 billion in assets under management after a wave of fundraising last year, and are ready to deploy billions in dry powder on local deals.
The new record follows a strong year of fundraising, according to the Australian Investment Council's 2019 Yearbook, which uses figures compiled by data provider Preqin and looks at fundraising, deals and exits across the industry.
Across the year, 17 Australia-based private equity funds secured a combined $6.6bn, of which the majority will be dedicated to making investments in Australia. This strong fundraising activity means that fund managers now hold $11bn in dry powder, up 31% compared to the end of 2017.
"These figures highlight just how attractive our market is to both local and global investors. Private capital investment offers an opportunity to provide smart capital to privately backed companies in a relatively low risk environment and the numbers prove we're well positioned to do that," said Australian Investment Council Chief Executive Yasser ElAnsary.
"More and more businesses are choosing to raise capital from private capital investors today, rather than through public markets, because of the benefits of partnering with venture, private equity and private credit firms," said ElAnsary. "Private capital investors can help unlock the growth and expansion opportunities of businesses, in a way that public markets simp...................... To view our full article Click here
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