Its Adams Street Partners’ turn to wine and dine Australian high-net-worth types, after similar recent trips from the likes of Blackstone, KKR and Oaktree Capital Management.
The overseas arrivals seem to be making the most of a lull in fundraising from the locals.
Sacher and his team planned to invest the fund offered to Australians across the capital structure, going from senior secured debt, junior debt and equity often in financial sponsor deals. The portfolio’s biggest weights were to healthcare services, and to defence and consumer services. There’s a bunch of metrics not often sighted in fund decks passed around on Australian shores, including weighted average unlevered current yield and weighted average equity cushion .
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