Anchorage Capital Partners has closed its fourth institutional fund - Anchorage Capital Partners Fund IV - having exceeded its target of $500 million.
It follows the company’s successful acquisition of David Jones earlier this year for a reported $100 million.
Anchorage has also acquired Evolve Education and Access Community Health.
An Anchorage spokesperson said the firm is thrilled to announce the fundraising, with the closing of Fund IV “validating Anchorage’s established position as the only dedicated manager across special situations and operational turnarounds in Australia.”
“The success of our predecessor funds led to continuing interest from long term investment partners and attracted significant interest from new Australian and international investors,” the spokesperson said.
“Fund IV investors include superannuation funds, pension funds, fund-of-fund investors and endowments.
“By geography, a large portion of Anchorage’s investors are Australian with remaining investors diversified across Asia, the US, the Middle East and Europe.
“It reinforces the value Anchorage brings through its proprietary, operationally focused programs as we continue to invest in complex, quality Australasian businesses and special situations including carve outs.”
Anchorage has reportedly managed commitments of over $1 billion across multiple funds and co-investments.
"We have successfully completed some of the most complex, time-sensitive and challenging transactions in the Australian, New Zealand and Southeast Asian markets.
“We have extensive experience in acquiring subsidiaries of larger businesses and transforming them into higher-quality, standalone businesses."
This fundraise was led by managing partners Callen O’Brien, Beau Dixon and Simon Woodhouse, and director Ben Ware.
Gilbert+Tobin acted as legal adviser and EY as tax adviser to Anchorage.