Industry Funds Management (IFM) has today announced the creation of a new investment platform for the firm called Private Capital, which will integrate the current Private Equity and Private Assets groups into one team.
“The integrated group will enhance its proposition to investors by better leveraging the considerable experience and capability that resides within these teams and enable an increased focus on investor returns and direct investments,” said Chief Executive Officer Brett Himbury .
“The Private Capital platform will provide clients with a broad suite of investment options in unlisted operating companies.”
This will be done through:
- Private Equity Fund Investments – commitments to private equity funds globally
- Private Equity Co-investments – co-investments with leading private equity managers
- Private Equity Direct – minority investments in growth focused SMEs, and
- Long Term Assets – direct, long-term control investments in defensive businesses.
Phillip Bower will lead the combined group as Head of Private Capital. Phillip is a seasoned commercial and investment professional with over 14 years experience in private equity, including several years as a Managing Director at Unitas Capital, and as CEO of two significant buy-outs.
Steve Lipchin, Executive Director, will play a key role in the team, driving expansion into direct investments in small and medium-sized enterprises and co-investments with private equity managers.
IFM has been an active investor in private equity markets since 1998 and has built a strong track record in this asset class, currently managing approximately $2.4 billion across Australian and international private equity investments, in both private equity funds and co-investments.
The Long Term Assets program was recently established with the appointment of a team of dedicated investment professionals with significant investment, M&A transactional, operations, and general management experience across private equity and public markets.
There are no changes to the management of the existing private equities fund of fund programs.