Dear AVCAL Colleague,

AVCAL 2006 - wrap up

I extend sincere thanks to sponsors of AVCAL 2006 who enabled us to stage a great conference at the Cairns Convention Centre.

I also thank the speakers for their exhaustive preparation.

The facilities at the Convention Centre are first class, and enabled us to stage streams for early and late stage.

We will be sending an electronic survey to delegates. Preliminary feedback has been very positive, the only criticism being that Cairns is a long way away. (Perhaps not such a bad thing!)

Presentations are now on-line. Audio files are being formatted and will be added as soon as they have been edited.




Event production by Turning Point Solutions

The company that manages the technical production of AVCAL's annual conference has recently been nominated for an Australian export award. They now produce events in Shanghai and Bejing. What a great story.



PE & VC Award Winners

Congratulations to the winners of the 2006 AVCAL Awards for excellence in Private Equity & Venture Capital.

The awards were presented during the annual dinner. A highlight was when Dave Johnson and his colleagues from Oasis Asset Management came to stage. Dave said that the award meant a lot to him and his colleagues who had travelled from Wollongong to be at the ceremony. "I am the son of a coal miner," he said proudly, "and you have helped us achieve this." Oasis employs 170 people, 90% of them in Wollongong. What a great story!

The Award for Best Early Stage Investment was won by Pacific Equity Partners for its investment in Oasis Asset Management, a provider of specialist asset administration, trustee and internet services to the funds management and financial planning industry. The original investment of A$6.75 million returned A$36.5 million and an internal rate of return (IRR) of 39 percent.

The Award for Best Expansion Stage Investment was won by Investec Wentworth Private Equity for their investment in FoneZone, a large, independent mobile phone distributor. The original investment of A$7.95 million returned A$46.1 million and an IRR of 104 percent.

The Award for Best MBO Less Than A$50 million was won by DB Capital Partners for its investment in Pacific Nursing Solutions. The original investment of A$28.6 million returned A$54.9 million and an IRR of 62 percent.

The Award for Best MBO Between A$50 million and A$250 million was won by Archer Capital for its investment in John West Foods. The original investment of A$25 million returned A$81 million and an IRR of 68 percent.

The Award for Best MBO Greater than A$250 million was won by CHAMP Private Equity for its investment in subscription television provider Austar United Communications. The original investment of A$82 million returned A$557 million and an IRR of 107 percent.

The Award for the Best Public-to-Private Deal was won by ABN AMRO Capital for its investment in Ausdoc Group Ltd. The original investment in the A$312 million transaction returned three times money and an IRR of 84.1 percent.

View further details of the winning transactions.



Thomson Financial / AVCAL 2006 Yearbook

The 2006 Yearbook was released at the conference and is now available online.

The Yearbook reveals the industry raised A$4.092 billion in fiscal 2006. This was in line with the A$4.142 billion raised in fiscal 2005 but higher than the amount raised in fiscal 2002, 2003 and 2004 combined.

Private equity and venture capital funds invested A$2.253 billion in fiscal 2006, the largest amount since the tech bubble burst in 2001.

Private equity businesses operating in Australia confirmed their world-class skills and performance by outperforming those in the United States in delivering longer-term returns for investors.

According to a scorecard prepared by Thomson Financial, the internal rate of return (IRR) per annum on private equity in Australia for the period to 30 June 2006 was 19.2 percent for one year, 29.4 percent for three years, 14.8 percent for five years and 12.6 percent for 10 years.




AVCAL AGM
23rd November 5pm

The AGM will be staged at Quay Restaurant at 5pm on Thursday 23rd November.

Nominations to serve on AVCAL Council

Nominations are now open to members interested in serving on Council for 2007 & 2008.
Please note - Nominations close at 5pm on Thursday 12th October, 2006.

View Notice of Meeting & Nomination Details


Yours sincerely,

Andrew Green
Chief Executive

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