The 50 largest Australian investments currently under PE ownership employ 90,000 jobs - almost two times the size of the local car industry.
Newsletter - May 2012
I've just returned from Washington where I met with my counterparts from all over the world in conjunction with speaking at the EMPEA/IFC conference. The global perceptions of PE and VC at the moment was the main subject on our minds. The "Mitt Romney effect" will also have reprecussions in Australia and we need to ensure that the Government, the media and the general public understand more about how PE goes about its business. We need to continue to explain the value PE adds to the economy -- by providing capital and expertise to growing companies -- and how our members reinvigorate under-resourced, under-valued or moribund companies.
To help us to make this case we have two major research projects underway. One will look at the economic impact of PE and the way we improve productivity and enhance jobs growth. The other will look at how VC builds new companies and new industries to take Australia into the future.
We will be publishing the results from these projects in the second half of this year and we will keep you posted about progress. Please assist our research team and partners with your data as these studies will be very valuable in our advocacy work.
If you haven't already seen our Post-Budget email update, we have updated our members-only PE&VC tax issues table with an additional item in relation to the increase in MIT final withholding tax from 7.5% to 15% (members will need to be already logged into the website first).
AVCAL alpha conference registrations commence this week for partners and on 29 May for all AVCAL members. Separate communications will remind you of the various important processes for registering and remember that it is members-only, so you must be paid up to attend conference.
Stay tuned for a few new programs coming your way including an AVCAL Focus on Fundraising and a Due Diligence workshop.
We will be hosting The Hon. David Bradbury, MP, Assistant Treasurer at a member lunch coming soon.
PE Performance: Worth the Wait [members-only] For LPs, a thoughtfully planned PE portfolio can outperform the public markets and be self-funding. This paper by Hamilton Lane explains why the potential for outperformance and liquidity are worth the wait.
PwC report on Private Equity Growth FundsTwo-thirds of 11,000 Australian companies with revenues over $10m are owned by baby-boomers, many with no succession plan in place. This report by PwC in collaboration with AVCAL looks at the role of PE growth funds in backing Australian small businesses.
The pulling power of venture capital and private equity came to the fore recently as we sealed a deal with Virgin Australia to become official airline partner of AVCAL for 2012. The strong loyalty of AVCAL members, the presence of top global and Australian brands in our partners program and the obvious corporate influence from our community, convinced the Virgin team that an alignment of our brands made great sense.
Virgin benefits for conference delegates will include:
discounted Virgin Australia tickets for conference flights to Brisbane or the Gold Coast
free lounge pass for use at any Virgin Australia lounge for specific fare types
Details will be sent out to all registered delegates.
We'll be including portfolio company logos into the AVCAL alpha conference audio visual theme this year. If you'd like to shine a light on your investee portfolio, please send us the logos. These must be .eps files. Sorry, we can't accept other file types. We will do what we can to include them all but it may not be possible. Submit them in a zipped file if necessary here.