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Jeremy Samuel, former Director of private equity at ANZ Capital, has created a new private equity firm, Anacacia Capital, to focus on buyouts of small to medium enterprises (SMEs) in Australia and New Zealand that have strong growth potential.

"[The SME businesses targetted by Anacacia] will generally have EBIT [profits] of less than A$10m [US$7.8m] per annum.  And we find that in the Australian and New Zealand markets there is huge demand, particularly among family-owned businesses.  They are often looking to sell their businesses to their management teams in confidential transactions and wanting to manage succession.  Our role in responding to that demand is supporting the best quality management within that industry", said Samuel, co-founding Managing Director of Anacacia Capital.

Samuel was unable to disclose the total fund size at this stage, although he said that initial investor demand was very strong.  A combination of institutional funds and high net worth individuals and families will form the capital for Anacacia Capital's wholesale fund.  As one of its central strategies, it will confer with a business advisory council of highly respected retired and current CEOs and chairmen in the Australian market.  Their input is expected to add operating expertise to Anacacia's investment selection and portfolio management.

The private equity firm is preparing for a mid-year fundraising.

© Asian Venture Capital Journal February 2007
© Anacacia Capital Pty Limited