Australia: Norton Rose Fulbright acts for Vantage Asset Management on the successful first closing of Vantage Private Equity Growth 3, LP (VPEG3)
Last Updated: 29 March 2017

Global law firm Norton Rose Fulbright has advised Vantage Asset Management on the launch of its third fund, which deploys a diversified growth private equity strategy. The fund has been well supported by a number of experienced individual and institutional investors and achieved a first closing earlier this year. The fund remains open to new investors.

Since establishment in 2004, Vantage has developed and managed a Fund of Funds investment strategy focused exclusively on small to mid-market, Growth Private Equity.

The fund is also open to Significant Investor Visa (SIV) investors under the revised Complying Investment Framework. Of the AU$5 million total investment required to be made by a high net worth migrant, a mandatory investment of at least AU$500,000 is required to be made into a complying registered fund.

The Vantage fund has been granted unconditional registration status by the Innovation Investment Committee of the Australian Government Department of Industry, Innovation and Science.

Norton Rose Fulbright lead partner Fadi Khoury commented:

"The fund design takes advantage of government reforms aimed at attracting investor capital into this sector."

Vantage managing partner Michael Tobin commented:

"The fund invests ultimately into a diversified portfolio of profitable companies managed by top tier private equity fund managers in Australia. The fund provides investors access to institutional private equity fund managers, otherwise inaccessible to many smaller (wholesale) investors.

Approximately 25 per cent of investor capital in the first close, came from SIV investors, predominately from China. We are excited by the support from SIV investors, who are astute investors and entrepreneurs themselves. SIV investors have selected VPEG3 in order to invest in a diversified set of growth private equity funds, compared to earlier stage venture capital alternatives.

The balance of investors are Australian high net worth individuals, self-managed super funds and family offices who have invested in Vantage's previous funds, VPEG1 and VPEG2, as well as new investors seeking to gain access to the high performance, growth private equity, asset class in an otherwise low return environment".

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