Pacific Equity Partners (PEP) is a private equity investment firm focusing on transactions in Australia and New Zealand. PEP invests across a range of industries and sectors, in turnaround and growth capital transactions. By 2023, The Australian Financial Review reported PEP to be Australia's largest private equity firm.[1]
It is also said to be Australia's oldest private equity company.[2] The firm, based in Sydney, was founded in 1998 by Rickard Gardell, Paul McCullagh, Simon Pillar and Tim Sims. All but McCullagh previously worked together as executives at Bain & Company.[3][4]
PEP has generated several buyout funds for investors. By 2022, these funds had $8.6 billion under management.[5] The launch of a continuation fund that year lifted this figure to $10 billion.[6]
In 2023, the firm announced its first "Gateway fund" which it described as a mechanism by which private investors may access global private equity investing, with reduced initial investment requirements.[7] In this approach, capital is distributed into PEP funds alongside funds from high-end global private equity firms such as Bain Capital and Leonard Green & Partners.[8]
PEP opened its seventh buyout fund, called Fund VII, in 2024, expecting to close later that year at A$3 billion.[1][9] This would be one of the largest Australian funds of its kind.[1]
^ abc"PEP prepares biggest fund to date, pitches proven money-making prowess". Australian Financial Review. 30 October 2023. Retrieved 23 February 2024.
^Cite error: The named reference :1 was invoked but never defined (see the help page).
^"Australia's Private-Equity Deals for the New Year". Wall Street Journal. Retrieved 15 June 2022.
^Wilson, Drew. "Privately Speaking: Tim Sims of Pacific Equity Partners". Private Equity International. Retrieved 15 June 2022.
^Thomson, James (2 May 2022). "PEP's $10b moment heralds private equity's new era". Australian Financial Review.
^Mendoza, Carmela (24 July 2018). "Pacific Equity Partners on why the Australian mid-market is thriving". Private Equity International. Retrieved 10 April 2019.
^"Pacific Equity Partners invites the wealthy into 'privileged' PE club". Australian Financial Review. 28 May 2023. Retrieved 23 February 2024.
^Weinman, Aaron (7 November 2023). "Fund that returned 23pc targets billions in investment". Australian Financial Review. Retrieved 19 November 2023.
^"PEP flags $1.5 billion-plus first close for Fund VII raise". Australian Financial Review. 19 April 2024. Retrieved 12 June 2024.
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