New Manager Quadrant Private Equity closes $265 million fund

On 2 November 2005 a new company, Quadrant Private Equity Pty Limited (“QPE”), owned by the management team had a first and final close of its fund Quadrant Private Equity No. 1 of $265 million. The raising was heavily oversubscribed with investors being domestic superannuation funds and institutions.

The fund will focus on mid-market buyouts and expansion capital opportunities in Australia and New Zealand. Its deal size is expected to range between $50 million and $200 million enterprise value with an equity cheque of $15 million to $50 million. The management team of Chris Hadley, George Penklis and Andrew Gilman has managed the successful stable of Quadrant Capital funds since 1996.

The QPE management team will continue to manage the Quadrant Capital funds under contract with the manager Westpac Private Equity Pty Limited. The website www.quadrantcapital.com.au outlines the successful record of performance with gross Internal rates of return for the three prior Quadrant Capital funds of 24.7%, 44.6% and 96.5% for the period since inception to 30 June 2005.