The Future Fund’s old private equity team, now running a new shop Potentum Partners, is busy mailing out pitch desks to potential investors as it tries to raise its annual co-investment fund.The firm has asked clients for a collective $US40 million for the second co-investment fund, which Potentum reckons it would spread across eight to 12 co-investment deals sourced via its main fund.
So far, it has tipped money into private equity funds from Australia’s Quadrant Private Equity, Bain Capital, Columbia Capital, HellmanFriedman, and venture or growth offerings from Lightspeed, Playground, Left Lane and Bessemer Venture Partners.Potential investors were told Advent International’s European and US mid-market buyouts fund was in the pipeline to be added in the near term.
The first co-investment fund’s picks included United States’ wireless spectrum auction, German restaurant supply order software Choco and American healthcare enterprise software business Athernahealth.