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 initial fund of A$265 million, we invest in businesses with an enterprise value of between A$50 million and A$250 million.
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.
Our combined 30 years of private equity experience and strong track record has convinced blue-chip institutions to invest A$265 million with Next Capital. The fundraising, completed in October 2005, was heavily oversubscribed.
Investment focus
Next Capital has been established to capitalise on the opportunities in the area of expansion capital and small to mid market buyouts. These sectors contain a greater number of investment opportunities and generally experience less competition for funding.
We specialise in our chosen area because Australia's private equity market has grown considerably, become more fragmented and more complex as capital commitments have risen from A$100 million in 1999 to more than A$4 billion today. This has driven a trend toward greater specialisation by private equity funds in terms of particular industries or deal size.
Approach
The Next Capital business model allows our partners to be quick and flexible in decision-making while adhering to appropriate standards of due diligence and risk management.
Our partnership model means that experienced, capable management teams and company stakeholders can execute their expansion plans confident of the support from Next Capital. Contact us to explore ways we can partner to unlock the growth potential of your business.
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