Under the radar Seneca Capital is looking to cement its position in Australia’s private equity scene, launching a maiden fundraising to help bankroll up to six more lower mid-market buyouts.
Having had some early wins on a deal-by-deal basis, Melbourne-based Seneca Capital has gone to family offices and high net worth types with a $40 million raising for its Seneca Capital Private Capital Fund.AFR
The fund would target 20 per cent a year returns for investors, on a net IRR basis, by seeking out small fish in big ponds. Seneca Capital was founded by former Goldman Sachs executive director Will Charlston and ex turnaround/restructuring consultant Simon Kemp in 2016.
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