Dear AVCAL Colleague,
We have had a busy month with our Foundation Course and Advanced Training courses attracting good numbers and getting really good reviews. Both courses will be run again next year due to the strong demand.
Our role as an educator of the industry is an important one and we will continue to develop our suite of courses with the needs of the private equity and venture capital market top of mind. Our use of live industry practitioners has been a real success and our attendees appreciate practical stories from leaders in our industry. Thanks to all who attended and to our sponsors and presenters.
The Review into the National Innovation System is near to reaching the close of submissions. Ours is almost in its final shape and will be submitted next week. We'd like to be aware of AVCAL members who are submitting their own review. If you intend to do this or have any issues you'd like AVCAL to raise, please contact research@avcal.com.au.
I was invited to Geneva to attend the EVCA LPs Forum. They have an LPs only session with approximately 200 LPs attending then an afternoon with a further 200 GPs joining the Forum. It was interesting to observe the mood in Europe. It was very geographically diverse. Eastern Europe was very buoyant still where countries like Germany were far more pessimistic. The LPs were generally concerned - mostly that the GPs wouldn't be able to invest at a suitable rate in the current market place. The GPs on the other hand were fairly bullish and confidence in the mid-market was strong. I met many interesting people, several of whom I hope I have persuaded to attend AVCAL 2008.
Our own Conference planning is in full swing, we expect to open registrations week beginning Monday, 26th of May. Remember you need to be a paid up AVCAL member to attend. You may wish to discuss membership options with us or alternatively go online and apply now. Josh Lerner has agreed to not only give a key-note speech to the whole conference but to also participate on a panel in the early-stage sessions.
All the best
Katherine Woodthorpe
Chief Executive
Market News
First Quarter Slowdown for Global M&A
April 2008. According to Thomson Financial, private equity deals globally reached a four year low of US$43.5 bn for the first quarter of 2008, down 77 percent compared to the first quarter of 2007. More...
Member News
 Pacific Equity Partners Raise Largest Australian Buyout Fund
April 2008. Pacific Equity Partners (PEP) has finalised its fourth fund, PEP Fund IV, raising A$4 billion which was reported to be heavily oversubscribed. It becomes the largest buyout fund raised in Australia, eclipsing the A$1.36 billion raised by Archer in June 2007.
The fund will invest in companies that run their main operations from Australia or New Zealand and have a minimum enterprise value of at least A$300 million. The size of the fund gives it a considerable advantage, as one of PEP's founders Rickard Gardell stated, "In the current environment, a fund of this size is necessary to address deals much above A$300 million in size."
PEP was established in 1998 and has since made 18 portfolio company acquisitions and over 20 add-on acquisitions. Currently the firm has investments in 13 companies with combined revenue in excess of $3 billion per annum.
Sources:
FinAlternatives - Firm Raises 'Largest' Private Equity Fund In Australia
Scoop Independent News - Pacific Equity Partners closes A$4 billion Fund IV
Asia Private Equity Review - PEP Fund IV Claims Title as Largest Aussie Fund
InnoFuture 2008 - Future Powered by Innovation
Innovating for Sustainable Competitive Advantage:In the era of global competition and commoditisation in all industry sectors, business-model innovation is the sustainable way forward. InnoFuture 2008 is an essential knowledge forum for managers and thinkers from across an entire enterprise, developed in response to the growing need for practical, accountable tools and systems to fast track innovation which increasingly depends on the integration of social, economic and environmental objectives. InnoFuture 2008 presents a holistic way of thinking about innovation and brings together the world's best resources to help businesses fast track innovation as a key business strategy of the future.
InnoFuture features: Greatest Masters of Innovation | Latest Innovation Models and Tools | Hottest Trends in Sustainable Innovation. This is an inspirational business event designed to take innovation knowledge to the next level of competitiveness. Attend InnoFuture 2008 program and learn how to out-innovate the competition.
When: 9-10 September 2008, Melbourne, Australia.
| www.innofuture.com.au |
More info at: www.innofuture.com.au
Sponsorship Opportunity in Climate Change Science
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