Macquarie launches private equity fund

private equity retail investors institutional investors macquarie

10 April 2002
| By Lachlan Gilbert |

Macquariewill open its newest private equity fund to retail investors, aiming to attract up to $150 million from them, based on the success of a similar fund launched in 1999.

The Macquarie Private Equity Trust II will put aside a slice of $150 million for retail investors while institutional investors will make up the remaining targeted figure, which is understood to be around $400 million.

The fund will be launched by Macquarie Direct Investment (MDI) which has invested more than $320 million in 40 companies over 19 years of investing in private equity. The unit claims returns of 23.5 per cent for all investments, which is more than 10 per cent above the All Ordinaries Accumulation Index over the same period.

MDI managing director Sandy Lockhart says making the fund available to retail investors as well as institutional investors is a priority for the group.

“Through an investment in private equity, investors can get in on the ground floor of exciting private company investments which offer significant prospects for expansion, but which have historically been difficult for individuals to invest in,” he says.

The size of the private equity industry now stands at $9.3 billion in Australia, according to Macquarie, with 2001 heralding in more than $1.4 billion in investments in private companies.

“The universe of private company investment opportunities — totalling more than 40,000 private companies — far exceeds the size of the listed companies market and typically has far stronger expansion prospects,” Lockhart says.

The fund will be open for investing between April 22 and July 12 this year, while the wholesale component will be launched on April 23.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

3 weeks 5 days ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

5 days 10 hours ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

1 day 1 hour ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

4 weeks 1 day ago