Australian PE firm Liverpool Partners has held a first close on its debut multi-strategy impact fund, Australian Financial Review reports.
Liverpool Partners has so far collected A$350 million ($262 million; €225 million) for the vehicle, which will invest across PE, venture capital, unlisted infrastructure and renewables. Most of this capital was provided by domestic superannuation funds, though the firm aims to raise additional capital from family offices and high-net-worth investors ahead of a targeted final close on about A$400 million to A$450 million next year. It is seeking a 20 percent IRR.
Australia was home to A$29 billion of impact investing assets under management as of last year, a 46 percent rise from 2019, according to the Responsible Investment Benchmark Report: Australia 2021. Bonds make up the bulk (88 percent) of these, followed by real assets at about 7.6 percent. Meanwhile, PE accounted for just 0.3 percent of impact AUM – a figure that should be improved by Liverpool’s new fund.