Partner Nathan Cahill, senior associate Robyn Coote and consultant Elizabeth Mifsud from Minter Ellison have advised Quadrant Private Equity on the closure of its seventh fund at AUD850m (£445m) slightly more than a month after launching the capital raising.
The fund attracted significant interest from both domestic and offshore investors, with the best following of foreign investors of any new Australian fund. It was two times oversubscribed.
Quadrant’s strong track record helped it reach its target quickly. In the past 12 months, Quadrant Private Equity finalised the acquisitions of outdoor advertising group APN Outdoor and Zip Industries; took Virtus Health to an initial public offering; and invested in Perth-based City Farmers, a retailer of pet food, supplies and products, and in Estia Health, an aged care operator with more than 1,100 beds under management across 10 facilities in Victoria.
The fund manager is a longstanding client of Minter Ellison. The law firm acted for Quadrant on its investments in APN Outdoor, iSentia and the Independent Pub Group, the sale of Quick Service Restaurants and the establishment of Quadrant Private Equity Fund III.