It is tempting to read the latest chapter in the Seek–Employment Hero saga as the everybody-knew-it-was-coming break-up between squabbling long-term partners.
The investor-turned-competitor, the API cut-off, the Federal Court lawsuit, the settlement, and now the exit. There’s enough drama for an Emerald Fennell epic, and probably some truth to that.
On Monday, Seek Growth Fund revealed in its half-year results that it would offload its remaining stake in Employment Hero.
But the break-up tells a bigger story about Australia’s private markets. Growth funds are under pressure to deliver real returns — not just flattering valuations on paper.
