Mercury Capital appoints State Street to administer AUS$1bn private equity fund
27 July 2022 Australia
Image: putilov_denis/stock.adobe.com
State Street has been selected as a fund administrator for the Mercury Capital Fund twenty2, which will focus on mid-market private equity transactions in Australia and New Zealand.
The AUS$1billion fund completed its fundraising and closed on 30 June to launch Mercury Capital’s fourth private equity fund since its inception.
Mercury Capital Fund twenty2 will focus on mid-market private equity transactions in Australia and New Zealand and anticipates making eight to 10 investments over its life cycle.
It will target partnership investments alongside private business owners and management teams in companies with enterprise valuations in the range of AUS$150 million to AUS$500 million.
Speaking on the announcement, Tim Heylar, head of Australia at State Street, says: “Mercury understands the critical role State Street plays in bringing its global expertise, scale and experience to the task of fund accounting and administration.”
Clare Perkins, chief executive of Mercury Capital, adds: “It will be reassuring for our investors that we have the support of State Street, which has the capability and sophistication to work seamlessly and effectively with our Mercury Capital team as it pursues its pipeline of opportunities.”
The AUS$1billion fund completed its fundraising and closed on 30 June to launch Mercury Capital’s fourth private equity fund since its inception.
Mercury Capital Fund twenty2 will focus on mid-market private equity transactions in Australia and New Zealand and anticipates making eight to 10 investments over its life cycle.
It will target partnership investments alongside private business owners and management teams in companies with enterprise valuations in the range of AUS$150 million to AUS$500 million.
Speaking on the announcement, Tim Heylar, head of Australia at State Street, says: “Mercury understands the critical role State Street plays in bringing its global expertise, scale and experience to the task of fund accounting and administration.”
Clare Perkins, chief executive of Mercury Capital, adds: “It will be reassuring for our investors that we have the support of State Street, which has the capability and sophistication to work seamlessly and effectively with our Mercury Capital team as it pursues its pipeline of opportunities.”
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