The Private Capital Group has committed $14.8 million to two private equity funds.
The Private Capital Group has committed $14.8 million to two private equity funds.
The group is backed by 10 industry superannuation funds and will invest the money through its Niche Emerging Private Equity Manager Fund (NEPEM).
The superannuation funds include BUSS(Q), QIEC Super, Sunsuper, Club Super, ESI Super, AUST(Q), SPEC(Q), Catholic Superannuation and Retirement Fund, Intrust Super Fund and AustSafe Super.
NEPEM is managed by Sovereign Investment Research.
It will invest US$6 million ($6.8 million) in the Pacific Road Resources Fund and $8 million in the Anacacia Capital Fund.
The Pacific Roads Resources Fund invests in emerging mining companies.
Anacacia is a buyout fund that was established by former ANZ Capital private equity director Jeremy Samuel.
With NEPEM fully invested, Sovereign will look at raising a successor fund, NEPEM II.
"We will be approaching the superannuation funds from the Private Capital Group but will also look at seeking investments from other funds," Sovereign managing director Ray King said.
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