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PEP raises $200m ahead of Link float

Australia's largest private equity firm is raising equity for its share registry business Link Market Services.
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Pacific Equity Partners is raising $200 million for its $2 billion Link Market Services, with sources speculating the company is being prepared for a sharemarket listing next year.

The equity is being raised through a private placement with Macquarie Group, a source said.

Last year, The Australian flagged that Link was one of the businesses PEP was preparing to exit, along with Hoyts, Xtralis and Griffin's Foods.

The company was purchased by PEP about eight years ago and in 2010 it was thought to have an enterprise value of about $2bn.

The raising comes after comments from PEP managing director Cameron Blanks that the company was earmarked for a listing on the Australian Securities Exchange.

Link would rival local competitor Computershare, with which it shared about 40 per cent of the domestic market.

PEP had plans to increase Link's business in India and Hong Kong, and Blanks said there were growth opportunities in North America as well.

PEP has done more than $1bn of acquisitions since 2010.

Link Market Services is a leading share registry and financial services provider in Australasia, managing more than 10 million account records and more than 1000 ASX securities.

The company focuses on to the provision of premium service, using innovative technology and industry expertise to deliver tailored best practice solutions and value to clients and investors.

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Bridget Carter - The Australian
Bridget Carter - The Australian
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