Archer Raises A$1.5 Billion for Fifth Australian Private Equity Fund

Archer Capital, the Australian private-equity firm formed in 1996, raised A$1.5 billion ($1.5 billion) from local and international investors for its fifth fund.

Archer, which has invested more than A$600 million this year, announced plans to raise the money in September, the company said today in an emailed statement.

Sydney-based Archer this year made investments in companies including private hospital operator Healthe Care Australia, the Red Rooster and Oporto fast-food chains, and bought a controlling stake in V8 Supercars.

The firm also sold assets, including the sale of financial software company MYOB Pty Ltd. to Bain Capital LLC and iNova Pharmaceuticals (Australia) Pty to Valeant Pharmaceuticals International Inc. of the U.S. This year’s divestitures totaled more than A$2.5 billion and returned 3.2 times the initial investment, Archer said in the statement.

To contact the reporter on this story: Brett Foley in Melbourne at bfoley8@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.