BGH Capital has cemented its mantle as Australia’s heavyweight private equity firm, raising $3bn for a new buyout fund from deep-pocketed institutions in Australia and offshore.
Melbourne-based BGH Capital went to existing and new potential investors late last year, seeking to raise $3 billion for its new BGH Capital Fund II, which would be the largest fund in the hands of an Australian buyout firm.
Investor sources told Street Talk that BGH Capital had already picked up the $3 billion and recorded a first close in recent weeks, to restock its coffers ahead of what shapes as a busy year for Australian deals.
At an estimated $3 billion, the new BGH Capital Fund II would be the largest open fund in Australian private equity, not including regional funds run by big offshore managers like KKR & Co and Blackstone. [The next biggest is BGH’s first fund, followed by Pacific Equity Partners’ $2.5 billion Fund VI raised last year].
Read more: AFR
