What are the best PE firms in Australia
Interested in understanding what the PE landscape in Australia/NZ looks like - what are the top PE firms in terms of prestige? Is PE recruiting in Australia any different than what you would see in the USA/UK?
There is a mix of domestic middle market firms and international sponsors active in Australia. I would say large domestic funds like PEP and BGH Capital are probably more active than most of international buyout funds while competing for similar sized assets. Quadrant, Champ, Allegro, Champ, Crescent, Adamantum and Anchorage are all established domestic funds active in the middle market space. In terms of international sponsors, KKR is the more active firm, having recently done few deals in Aus (Arnott, MYOB etc) while Blackstone is more RE focused. Carlyle has done few deals through its special sits arm (Pioneer, Bis) and one every few years for their buyout fund.
Recruiting is done through professional recruiting agencies (headhunters) and the process isn't as structured as in US. The investment teams are quite small (roughly ~20 ppl per firm for most international/domestic). People move from banking/consulting to PE bit later (Associate) than the accelerated process you normally see in US
the above poster is largely correct for PE in the corporate space - which seems quite small in Australia. However a lot is left to said about the financial sponsors in the infrastructure and real assets space that make up a large chunk of investment activity in Australia which range from large traditional players (MIRA, QIC, Brookfield, AMP, IMF, palisade, First Sentier etc.), super funds (AusSuper, CBUS etc with huge pool of funds in Australia due to compulsory super contributions looking to allocate capital in stable returns in infra), PPP Co-investors (plenary , capella ) , and several funds focused on sub sectors I.e Octopus for renewables. Real estate also has many players here
hi there - whats your thoughts on workign in a superfund for infra? (Aus too)
Depends on the superfund. Some have more capabilities and direct investment teams built out more than others in terms of doing majority acquisitions. In the most part superfunds take a passive stake investment alongside other private equity bidders.
Good place to be and likely good hours, however trade off is progression and pay will be lower - especially for juniors where bonus is capped to a small amount. Will also likely be difficult jumping from a minority investor into a large infra PE fund later down the track. So if you after pay / progression / prestige, better off going down the IB -> traditional infra PE route. If these don't matter so much then superfunds offer a great career to retirement
HK based so don't know all the names but Barings has done some interesting deals there
None :)
But seriously, look overseas by the time you've done your traditional/typical 2-3 year IBD stint
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