Anacacia Closes $150million Raising
Investors in Anacacia Capital were informed on Tuesday night that the private equity firm had reached its final close for Fund II at $150 million.
The final allocation was more than three times over-subscribed, as reported on Street Talk online yesterday.
The Sydney-based firm, founded by former ANZ Capital private equity boss Jeremy Samuel in 2007, was initially seeking to raise between $50 million and $100 million. Anacacia targets businesses with annual revenue of up to $100 million, and often looks for situations where there may be family succession issues.
Its Fund I was ranked the best-performing fund globally (taking into account all funds raised between 2006-2008) by London-based data provider Preqin last year.
Exits have included the sale of baby food maker Rafferty’s Garden to PZ Cussons last month and branded cooking appliances supplier Home Appliances to McPhersons earlier this year.
Anacacia’s success comes as some of its larger rivals struggle to gather fresh funds from investors.
© 2013 The Australian Financial Review