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Ropes & Gray Represents Pacific Equity Partners on Sixth Core Fund

Practices: Asset Management, Private Funds, Private Equity, Sponsor Representation

Ropes & Gray represented Pacific Equity Partners (PEP) on their sixth core fund, PEP Fund VI, which closed in July with AUD$2.5 billion (US $1.79 billion) of commitments, at its target hard cap.

The Cayman domiciled fund, with Australian parallel vehicles, will follow PEP’s clearly defined and consistent investment philosophy to invest in underperforming market leaders, predominantly in Australia/New Zealand. Fund VI has a strong pipeline of opportunities which are well-progressed.

Established in 1998, Pacific Equity Partners has approximately A$4.9 billion in assets under management. It is the largest Private Markets fund manager in Australasia as measured by FUA. The PEP Funds target investments in a wide range of industries including industrial services, energy, consumer products, healthcare and 'big data'/financial services. Funds managed by PEP have made 34 operating company investments, and over 100 bolt-on acquisitions.

The Ropes & Gray team advising on PEP Fund VI was co-led by asset management partner Arthur Andersen III and the late Raj Marphatia, and included asset management counsel GangQiao (John) Wang, asset management associate Rob Rossi, and tax associate Stefan Herlitz.

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