Anchorage closes fund after hitting $500m target
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The news: US investment manager Anchorage has closed its fourth institutional fund, having surpassed its $500 million target.
The numbers: Acquisitions within Fund IV include David Jones, Evolve Education, and Access Community Health. Anchorage's last buyout fund, Fund III, raised $350 million. The firm has more than $1 billion in managed commitments.
The context: Fund investors included superannuation and pension funds, fund-of-fund investors and endowments predominantly based in Australia, with remaining investors spread between Asia, the US, Europe and the Middle East.
What they said: "We have successfully completed some of the most complex, time-sensitive and challenging transactions in the Australian, New Zealand and Southeast Asian markets," Anchorage said in a statement.
"We have extensive experience in acquiring subsidiaries of larger businesses and transforming them into higher-quality, standalone businesses."
The source: Anchorage Media Release
