About Next Capital

Founded by three of Australia's most experienced and capable industry executives, Next Capital is an independent private equity firm specialising in providing capital for later-stage expansion and small-to-mid market buyouts with an enterprise value of between A$50 million and A$250 million.

Next's initial fund of A$265 million has now been fully invested in seven companies, of which four are in Australia and three in New Zealand.

Partners 

Next Capital's partners; Sandy Lockhart, Patrick Elliott and John White, are former principals of Macquarie Bank's private equity arm, Macquarie Direct Investment Limited (MDI). MDI raised four private equity funds that generated an average internal rate of return of around 30% from the 33 realised deals at the time of the partners' departure.

The principals' combined 30 years of private equity experience and strong track record convinced blue-chip Australian institutions to invest A$265 million with Next Capital. The fundraising, completed in October 2005, was oversubscribed. In 2008 fund raising was commenced for Next II. Commitments received to date include most of the investors in the first fund as well as a number of International Fund of Funds.

Investment Focus
Next Capital was established to capitalise on the opportunities in the area of expansion capital and small-to-mid market buyouts in Australia and New Zealand. These sectors are believed to offer a greater number of investment opportunities and generally experience less competition for funding than a number of other areas targeted by private equity. Added to these factors the principals believe that smaller companies typically are able to grow more rapidly than their larger counterparts.

Approach
The Next Capital business model allows its business partners to be quick and flexible in decision making while adhering to appropriate standards of due diligence and risk management. 

Our model, which is based on the concept of partnership, means that experienced, capable management teams and company stakeholders can execute their expansion plans confident of support from Next Capital. Contact us to explore ways we can partner to unlock the growth potential of your business.

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