Deals include $30 billion bid for Ramsay Health Care as private equity firms hunt in Australia to deploy “unprecedented wall of capital”, according to one lawyer working on transactions.
The value of private equity-backed mergers and acquisitions targeting local companies has surged to a record $40.1 billion in the first five months of the year, as global private markets heavyweights target Australia to deploy vast sums of capital.
The deal was initially unveiled in April before KKR sweetened the bid in May for Australia’s second-largest listed healthcare business, which has operations across Europe and the UK in addition to Australia. The giant deal for Ramsay Health Care is not only led by a global private equity giant, but also includes several sovereign wealth funds and local super funds. This exemplifies the appeal of Australian companies to international suitors and highlights the type of local business that appeals to private equity firms, Ms Mak said.A have been from global funds like KKR,” she said.
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