CHAMP Ventures

Australian firm CHAMP Ventures’ decision to wind down in the face of succession issues is a reminder that the industry needs to manage the transition to new leadership with care.

The firm has scrapped plans for a new fund and will instead focus on managing the remaining assets in its portfolio.

Australia’s Champ Ventures continues to invest its seventh fund acquiring New Zealand outdoor brand Macpac.

The Australian PE firm has exited modular building supplier Australian Portable Buildings in a 3.8x trade sale.

The size of the close is confidential, however the fund is targeting $482m in commitments.

The sale of the temporary fencing provider is, say the two firms, Australia’s first tertiary buyout. It was originally invested in by CHAMP Ventures in 2004.

The expansion capital and mid-size buyout arm of CHAMP in Australia has closed its sixth fund on A$300 million.

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The firm had been in early discussions with existing LPs about a smaller Archer Capital Fund 6 and will focus solely on its current portfolio.

CHAMP’s decision to rebrand as CPE Capital caps a decade-long transition of leadership from its founders to chief executive John Haddock.

As some of the country’s old guard struggle to navigate leadership transitions, a new wave of managers has emerged.

CHAMP V Fund would be more than 20% larger than its 2016-vintage predecessor, Private Equity International has learned.

The deal-by-deal firm is expected to target as much as A$300m when it comes to market in 2020.

A shift in Australian private equity has left firms like Archer, which has decided not to continue raising its sixth fund, without deep institutional backing.

From Sydney to Boston, a slew of firms emerged this year and raised capital from limited partners betting that getting in early can pay out big.