Jeremy Samuel, formerly a director of private equity at ANZ Capital, has established Anacacia Capital, a private equity firm in Sydney, to invest in small to medium enterprises.
Samuel said: “While other private equity firms are focused on larger often public companies where they compete with multiple buyers, Anacacia will look to support management teams acquiring SMEs with profits less than A$10 million per annum.”
The firm is preparing for a mid-year capital raising from institutional investors and “super high net worth individuals and families,” according to a statement.
Samuel left ANZ where he chaired the bank’s private equity management committee, to found Anacacia. He helped grow ANZ’s private equity business to a point where the bank allocated A$400 million from its balance sheet, and raised over A$100 million for the asset class.
“We are responding to a significant underserved part of the market. SMEs, particularly family-owned businesses, are crying out for ways to manage ownership change, succession and acquisitions.”