CHAMP Nears A$1.5 Billion Target With Fund III

CHAMP, an Australian PE firm, is nearing its $1.5 billion Australian (US$1.4 billion) fundraising target for its third fund.

So far, the Sydney buyout shop has raised US$847 million (which is A$903 million), for CHAMP Buyout III GP, according to a Sept. 23 SEC filing, which was uncovered by the sleuths at FormDs.com.

The roughly $847 million was raised outside Australia. It is unclear where the remaining funds will come from but the PE shop is near its target of $1.5 billion Australian, a source says. The firm is expected to announce a final close in the next few months.

CHAMP held a first close for buyout fund III in September.  MVision is its placement agent. The PE firm’s second fund, CHAMP II, raised A$950 million (US$913 million) in 2005 while its first fund took in A$500 million (US$480 million) in 2000, according to the firm’s Web site.

The PE shop has already begun investing from its third pool. In July, CHAMP bought ATF Services, a provider of temporary fences and height safety services, from Quadrant Private Equity. The ATF investment came from fund III. CHAMP, that same month, also announced a sale of Study Group to Providence Equity Partners for A$660 million (US$570 million).

Executives at CHAMP couldn’t be reached for comment.