Private Equity
Babcock & Brown Global Partners
On 12 July 2005, Babcock & Brown announced the successful closing of its unlisted €372 million ($609.7 million) co-investment fund BBGP. BBGP has been established to invest exclusively in transactions originated and structured by Babcock & Brown on a global basis. BBGP has the right to participate in equity opportunities that Babcock & Brown are seeking to syndicate to third party investors.
At 30 June 2008, BBGP had drawn capital from investors totalling €296.1 million ($485.2 million) or 79.7% of the fund and had a further €38.7 million ($63.4 million) of capital committed to transactions.
Babcock & Brown Direct Investment Fund
BBDIF is structured to deliver superannuation funds and other institutional investors access as pari-passu partners with Babcock & Brown into a portfolio of direct investment opportunities sourced primarily, but not exclusively, out of Babcock & Brown’s global deal stream.
As at 30 June 2008, DIF's four trusts, DIF I Equity Trust , DIF II Mezzanine Debt Trust, DIF III Global Co Investment Fund and DIF Senior Debt
Trust held assets valued at $397 million. Since start-up in 2005, these Trusts have returned a combined $275 million to unitholders from successful asset realisations and income distributions.
BBDIF's third trust, the DIF III Global Co Investment Fund, reached final close in May 2008 with committed capital of $80 million.
DIF is now in the early stages of planning for its next two funds: one in global private equity and the other in
global mezzanine debt.