Australia's oldest buyout firm, CHAMP Private Equity, sees big opportunities for deals after the recent market volatility, and hopes to secure an acquisition in South-East Asia as part of its A$1.5 billion ($1.6 billion) investment fund, a top executive told Reuters.
"It's a very interesting time to be looking to deploy that capital. There are significant opportunities that are available to us," Cameron Buchanan, a managing director at CHAMP, said in a telephone interview.
He said the Sydney-based buyout firm was interested in deals in both listed and privately held firms.
Buchanan said CHAMP has expanded its focus from Australia and New Zealand to Singapore, where it is the only Australian private equity firm with an office in Asia, and hopes to secure its first deals in the region.
"We use our Singapore office to grow our Australian and New Zealand portfolio companies up into the Asian region, but we are also looking at doing stand-alone South-East Asian investments in the life of Champ III," Buchanan said.
Middle-market companies that have a presence in Australia or New Zealand markets would be of interest.
CHAMP closed its third fund, CHAMP III, in January after more than a year of fund-raising in a tough environment, and has made two purchases, temporary fencing business ATF and the wine operations of Constellation Brands in Australia, Britain and South Africa.
The fund targets mid-market firms with an enterprise value up to A$750 million ($785 million), and aims to have around 10 portfolio companies in total.
CHAMP announced the sale of 75 percent of its speciality foods group Manassen to China's Bright Foods on Wednesday , with grocery brands including Sunbeam and Angus Park dried fruits, Carr's water crackers and Ryvita crackers.
Buchanan said the sale would give the food-maker a "logical springboard" into Asia.