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October Newsletter 2009
Dear AVCAL Colleague

Latest Policy and Research News

mergermarket Private Equity Alert

Download the latest now (Members only)

Download New and Revised AVCAL Fact Sheets

Venture Capital
Private Equity

Australian private equity firms sign UN PRI

CHAMP Private Equity and Ironbridge were the latest private equity firms to join the United Nations Principles for Responsible Investment (UN PRI) signatories list. The UN PRI is used as an outline for investment companies, super funds and service providers to integrate environmental, social and governance issues into their investment processes. Read more.

Australia now has 4 GPs signed to the UN PRI including Anacacia Capital, KKR, Ironbridge and CHAMP PE. AVCAL will be facilitating a Responsible Investing information session for GPs/LPs only on 24 November 2009 in Sydney to provide some background on the subject and provoke some discussion. Register now. GPs/LPs only

Pepperdine Survey on Private Cost of Capital

The Pepperdine private cost of capital survey (PCOC) looks at the behaviour of senior lenders, asset-based lenders (ABLs), mezzanine funds, private equity groups, and venture capital firms in the US. It examines the benchmarks that must be met in order to qualify for capital, how much capital is typically accessible, what the required returns are for extending capital in today's economic environment, and outlooks on demand for various capital types, interest rates, and the economy in general. Read more.

R&D Tax Incentive consultation paper

Further to the passing of the Tax Laws Amendment Bill, the Government has released the R&D Tax Incentive consultation paper for public scrutiny and for interested parties to make a submission by the 26th of October, 2009. A further round of public consultation on exposure draft legislation and associated explanatory materials will occur later in 2009.Click here for more information

Notice of AGM

The AVCAL AGM will be held on Thursday 26 November 2009. You must register for the meeting if you wish to attend. All AGM notices, minutes and financial statements are on the website. Our end of year drinks function will follow the AGM. There is a fee to attend this event. Register now.


AVCAL 2009 was a great success with 550 people registered. Thank you to all of those people who responded to our post-conference survey. This feedback is really important to the ongoing planning of this event.

Congratulations to AVCAL award winners

AVCAL 2009 Award Recipients are:

Best Expansion Stage
Investec Wentworth for Perkins Shipping Group

Best Management Buyout <$100m
Gresham Private Equity for Australian Pacific Paper Products

Best Management Buyout $100-500m
Anchorage Capital Partners for Golden Circle

Excellence in Investor Reporting
This award was given by a panel of LP judges who deemed that CHAMP Private Equity investor reporting met AVCAL reporting guidelines and exceeded industry standard. It is hoped that this award will become a mainstay of the awards program in the years to come.

Lifetime Contribution to the Industry
Peter Chapman

Click here to read the media release

Something new

We are pleased to announce a QLD End of Year drinks function on 3 December 2009. Register below.

AVCAL Events

Responsible Investing Information Session 24 November, GPs LPs only.

AVCAL AGM & End of Year Drinks, 26 November at the Waterfront Circular Quay. AGM starts at 5pm. Register now.

VIC End of Year Drinks held at Maddocks lawyers, 1 December.

Inaugural QLD End of Year Drinks on 3 December, location to be confirmed.

Other Events

Australasian Life Science Investment Summit Tuesday 27th October 2009, Melbourne, Australia (Immediately preceding the AusBiotech 2009 national conference). More information.

Tech23 Celebrating Innovation 2009, Sydney, 27 October 2009. Register now

2009 China International LP summit
7 November, Beijing. More details.

EMPEA Beijing Conference, 10 November. More details.

AVCJ Private Equity & Venture Forum, 11-13 November, Four Seasons Hotel, Hong Kong. More details.

Private Equity & Venture Capital Law Master class November 18, 2009, Sydney- Legal case studies and new strategies to manage distressed debt, LBOs, pipe deals, new fund formation and fundraising.
Contact: Stephanie.Sudzina@keymedia.com.au

Family Office Congress -December 3-4th, Sydney
Significant Australian families come together annually to explore issues of capital preservation and family endurance. Private families like to invest differently -can you help them? To see details of the congress or register click here.

Katherine Woodthorpe
Chief Executive

Special offer from mergermarket to AVCAL Members



Archer Capital

BOS International

Castle Harlan


Coller Capital

Champ Private Equity

CM Capital

Credit Suisse

GE Commercial Finance








Next Capital

NBC Capital

Pacific Road Capital Management

Pacific Equity Partners

Propel Investments


RMB Capital Partners




Ernst & Young




AVCAL is the professionally managed industry body that promotes the Australian private equity & venture capital industry.

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