Our Private Equity portfolio

Our current investment activities are focused on the provision of growth capital for services based companies based in Australia or New Zealand.

Learn more in our Private Equity thought leadership

Learn more about our current investments portfolio

We partner with like-minded founders and management teams to accelerate growth and build capabilities for future success. We seek companies with resilient business models and a clear growth agenda, where our capital and expertise can make a positive impact on the company and provide attractive risk-adjusted returns to our investors.

About Novigi

Novigi is a data and technology services partner to the financial services industry, providing a range of consulting services, technology solutions and managed services for its clients.

IFM Investors and Novigi

IFM Investors made a significant minority investment in Novigi in 2024 to fund Novigi’s acquisition of QMV Solutions and to support the next chapter of service offering development and growth.

The company is well positioned to benefit from several macro trends impacting financial services and wealth management with data playing an ever more important role to unlock value for financial institutions and their customers.

About PRP Diagnostic Imaging
PRP is a provider of diagnostic imaging services with a strategic network of large-format, comprehensive clinics located in growth catchments across NSW, Australia.

Incorporated in 2008, the business grew to employ a number of doctors and clinical staff focused on improving patient outcomes and quality of care.

Led by an experienced management team and radiologists, PRP is well known for its complex imaging expertise across CT, MRI, PET and Nuclear Medicine modalities.

IFM Investors and PRP Diagnostic Imaging
IFM Investors, along with UniSuper, acquired a majority stake in PRP in 2022 and is supporting the company on its next phase of growth.

IFM is actively engaged with the management team and doctor group on building and expanding clinic capacity, increasing technology utilisation, and investing in brand, referrer network and patient experience.

The company is well placed to service the growing and ageing Australian population and reduce the burden on the health care system through preventative treatment and early-stage diagnosis.

About Render Networks Render Networks is a construction technology and enterprise ‘Software as a Service’ (SaaS) company that operates in the global telecommunications infrastructure market. 

The company’s proprietary geospatial construction management platform utilises automation and mathematical dependency algorithms to design, plan and track the construction of distributed networks.

Render’s digital end-to-end solution aims to deliver significant efficiencies and cost savings through automated streamlining of the construction process by replacing a number of traditionally manually driven tasks and processes.

IFM Investors and Render Networks
IFM Investors acquired a majority stake in Render Networks in 2022 and is actively supporting the company in its next phase of growth.

IFM is leveraging its existing networks to assist management in enhancing the platform, improving the customer value proposition, and building out systems and processes to enable the business to grow.

The company is well positioned to benefit from accelerating demand for data and digitisation of construction processes.

About SUPA

Smart Urban Properties Australia (SUPA) provides embedded essential services and building technologies to multi-occupant properties in Australia. The business was formed in 2022 through the merger of b.energy, FibreCorp, Urmet, Epsilon and Connecx creating Australia’s first unified provider of energy and networks embedded services paired with building technology offerings.

SUPA’s core products include:

  •  SUPA Energy which provides embedded electricity, gas, hot water services and EV charging stations to multi-occupant properties. SUPA Energy is a leading in providing renewable energy. It owns and operates onsite embedded renewable electricity generation and battery energy storage systems at the property.
  • SUPA Networks provides wholesale fibre-to-the-premise (FTTP) networks for multi occupant residential developments. It facilitates superfast broadband, Wi-Fi and building services such as access control and security systems.
  • SUPA Technologies installs and manages smart building technology solutions, including a centralised application which allows residents to manage energy, internet, security and building access.

IFM Investors and SUPA

IFM Investors invested in SUPA in 2023. IFM is focused on supporting SUPA in providing enhanced property experiences to multi-residential occupants and accelerating decarbonisation through greater access to renewable infrastructure, such as on-site electricity generation and EV chargers.

About Tally Group

Tally Group designs, builds and operates software that automates retail energy
billing and improves customer engagement / experience. Tally has 70+ customers globally and is focused on re-tooling retail energy providers with cloud-native billing and digital solutions.

The company is playing a meaningful role in facilitating the transition to renewable energy including through providing the complex software systems that integrates the increasingly decentralised sources of energy (such as solar, wind, and virtual power plants) as well as providing the technology to directly engage with customers in peak energy periods to change consumer demand behaviour.

IFM Investors and Tally Group

IFM Investors acquired a significant minority stake in 2023 and is focused on supporting management with its global growth ambitions.

IFM is aiming to leverage its technology and energy experience, as well as its ability to scale companies globally, in order for Tally to become a global leader in retail energy billing.

Tally Group is well positioned to benefit from a number of key trends including decarbonisation, energy decentralisation and growing customer expectations (e.g. data & analytics, technology offering) from their retail energy provider.

Past investments

Past investments IFM Investors have been involved with.

About Genie Solutions

Genie Solutions is a Brisbane-based software business providing practice management solutions to the majority of private practice medical specialists in Australia.

Genie’s software is designed to help streamline the day-to-day running of a specialist medical practice, managing patient bookings and registrations, accounts and medical history data so that medical practitioners can deliver better health outcomes.

IFM Investors and Genie Solutions

Investment Date: April 2017
Status: Exited (January 2022)

IFM Investors acquired a majority stake in Genie with a thesis predicated on supporting its transformation into a modern, cloud-based software as a service (SaaS) company.

IFM worked closely with Genie to support the company’s growth including:

  • Corporatising a previously family-run business with a new management team and material investment in people, technology, systems and processes

  • Significantly expanding and upgrading the product development capability to design and build a high quality, cloud-based technology platform and new services

  • Enhancing the sales and service approach to be consistent with a modern, SaaS based and advocacy-driven commercial model

  • Building a strong, results-focused culture to ‘help medical professionals deliver better health outcomes’ creating high team engagement

In January 2022, IFM completed the exit of its investment in Genie to The Citadel Group (a Pacific Equity Partners portfolio company).

About My Plan Manager

My Plan Manager (‘MPM’) is Australia’s largest provider of plan management services (claims administration and budget management) to NDIS participants.

The company’s market leadership is based on a distinct mission-based approach to deliver the best outcomes for clients.‌

IFM Investors and My Plan Manager

Investment Date: July 2019
Status: Exited (December 2023)

IFM invested in My Plan Manager (MPM) with a thesis to drive growth and productivity to create a platform asset in the National Disability Insurance Scheme (‘NDIS’) plan management sector, building on MPM’s early market leadership.

IFM’s value creation plan included significant investments in team capability, technology, process redesign and innovation. MPM’s resulting platform transformation supported rapid growth, supporting more than 60,000 NDIS participants at exit and processing several billion dollars of payments annually.

MPM’s transformation also enabled the business to acquire and integrate acquisitions efficiently, a key capability in the fragmented plan management market.

In December 2023, IFM completed the exit of its investment in MPM to Gallagher Bassett, a subsidiary of Arthur J. Gallagher & Co, one of the largest insurance brokers listed on the NYSE.

About Payapps

Payapps is a global Software as a Service (SaaS) provider in the construction and building management sector, with operations in Australia, New Zealand, North America and Europe.

Payapps’ software promotes a transparent, accurate and timely progress claim and approval process to sub-contractors helping to support a fair work environment and greater regulatory compliance.

IFM Investors and Payapps

Investment Date: November 2020
Status: Exited (February 2024)

IFM Investors made a significant minority investment in Payapps to fund identified growth initiatives and support the scaling of the business.

During IFM’s investment period, Payapps grew strongly as the construction industry continues to move away from traditional paper-based processes to digital payment and communication application solutions.

IFM worked closely with Payapps to support the company’s growth, including:

  • Investing in product development, sales and marketing to accelerate growth;

  • Implementing new sales channel partnerships and integrations;

  • Executing a strategic bolt-on acquisition in the UK; and

  • Implementing a new invoice financing product to monetise the payment flow.

In February 2024, IFM completed the exit of its investment in Payapps to Nasdaq-listed multinational software company Autodesk.