Anchorage Capital Partners has closed its debut buyout fund, which will focus on special situation and turnaround opportunities in Australia. It secured A$200 million in capital commitments, with MVision serving as placement agent.
Anchorage Capital Partners (“Anchorage”), the Sydney based private equity firm which focuses on Australian mid market special situation and turnaround buyouts, today announced the A$200 million final closing of Anchorage Capital Partners I, (the “Fund”). The strong support from new investors meant that the fund was
oversubscribed and capped at A$200 million.
Anchorage secured capital commitments from best-in-class global institutional investors, asset managers, public pension plans and funds of funds from Australia and the United States.
The Fund will seek special situations where it can make controlling investments in underperforming Australasian businesses, with enterprise values between A$50m and A$250m.
“We are delighted by the level of interest received throughout this fundraise in what was a difficult economic period” said Phillip Cave, Founder and Chairman of Anchorage.
MVision Private Equity Advisers acted as global placing agent. Minter Ellison acted as legal adviser to Anchorage.
Anchorage Capital Partners (“Anchorage”) was formed in 2007 and specializes in special situations and performance improvement opportunities, with a focus on Australian and Asian markets.
The Anchorage team has built their private equity experience over many years, commencing with a hands-on involvement in business turnarounds at the chief executive and executive level, then progressing to driving investee performance improvement from an active board level involvement.
For further information visit www.anchoragecapital.com.au