(September-2003) Principal launches PE placement agency

Private equity and alternative investment advisory group Principle Advisory Services has launched what it says is Australia’s first private equity placement agency service.

To enable this launch, Principle has formed exclusive relationships with placement agents Helix Associates and Monument Group, which operate in the European and North American institutional investment markets respectively.

According to Principle managing director Les Fallick, placement agents promote institutional investment in private equity by assisting fund managers to structure and market funds consistent with investors’ needs.

Fallick says this is the right time to launch this service because Australian super funds are increasingly making global asset allocations, and there is a limited number of suppliers of high quality private equity.

“Most people have been buying private equity through fund-of-fund structures, but investors are looking for something more sophisticated,” Fallick says.

“Principle’s placement service will ensure that Australian investors have greater access to world class international offerings and it will encourage foreign investors to allocate more capital to the Australian private equity industry.”