Ropes & Gray Represents Pacific Equity Partners on Sixth Core Fund
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 and asset management associate Rob Rossi.