Stafford awarded AUD$220m evergreen ESG themed private equity co-investment mandate by First Super

Sydney, Friday 28 June 2024 - Stafford Capital Partners (“Stafford”) is pleased to announce that its Australian PE co-investment program with First Super has now been converted into an Evergreen structure, further cementing the strong relationship Stafford has developed with First Super over nearly two decades. 

Stafford’s original PE program with First Super, which has been operating since 2010, has generated a net IRR in excess of 20% pa since inception. 

Converting the PE program into an Evergreen structure allows proceeds received from exits to be reinvested into new co-investment opportunities. 

Co-investments will be into small-to-medium sized Australian companies forecast to generate strong returns alongside co-investment partners. 

First Super’s CEO, Bill Watson, said “First Super is looking forward to continuing to support this important part of the Australian economy”.  

“Our size means we can continue to invest our members’ retirement savings in Australia, rather than in offshore private equity”. 

Stafford has worked closely with First Super for several years to develop a proprietary ESG diligence framework that has been, and will continue to be, applied to the co-investment program. 

Commenting on the mandate, Stafford’s Australian Private Equity lead Daniel Bowden said today that investing into private equity through a strong ESG lens had proven a successful investment theme for First Super. 

“This strategy’s strong focus on active management of ESG risks sets it apart within the private equity asset class, delivering strong benefits beyond the significant bottom line net returns.” 

“It is exciting that following several recent exits from First Super’s original program, there is dry powder available to reinvest under the ESG PE co-investment program.” 

Since the beginning of the year, Stafford’s private equity team has now secured an aggregate of $340m of new capital to invest into co-investment opportunities, both locally and globally. 

Media enquiries:

Phil Davey
+61 414 867 188
Phildavey@staffordcp.com

About Stafford Capital Partners
Stafford is an independent private markets investment and advisory firm with USD %%AuM%% billion in funds under management and advice* for more than %%numClients%% institutional clients worldwide. Founded in 2000, Stafford has a global team of 95+ professionals investing in infrastructure, timberland and sustainable private equity through secondaries, primaries, and co-investments. Stafford has been a UN PRI signatory since 2010 and committed to the Net Zero Asset Managers initiative in 2021

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This release neither constitutes an offer to sell nor a solicitation to invest in any of Stafford’s funds. It is for information purposes only and is not a recommendation. It does not constitute an offer to sell or a solicitation to invest in any jurisdiction where the offer or sale would be prohibited or to any person not meeting the required investor criteria