12 May 2006
Sydney, 12 May 2006: Clayton Utz has further consolidated its position as one of Australia's pre-eminent law firms in private equity with its recent role in advising CHAMP Ventures on the establishment of its sixth venture capital fund.
Partner Mark Williamson led the firm's team in advising CHAMP Ventures on fund structuring and capital raising laws applicable to private equity in Australia. The new fund raised A$300 million to focus on investments in fast-growing companies. CHAMP Ventures and its related fund manager, CHAMP, are two of Australia's pre-eminent private equity fund managers.
Other key members of the Clayton Utz team were solicitor Chris Yip, who focused on documentation, and special tax counsel Brendon Lamers, who advised on tax and structuring issues.
Williamson has advised CHAMP Ventures and CHAMP on their last four funds. He led the team last year that advised on the CHAMP II Buyout Fund, a A$950 million fund, with Clayton Utz colleague Trish Williams. CHAMP II targets LBOs and MBOs and is one of the largest of its type in Australia. Williamson also advised on the CHAMP I Buyout Fund in 2000 as well as CHAMP Ventures' fifth fund in 2002.
Williamson attributed Clayton Utz's strength in private equity to its in-depth knowledge of the industry and the major players, both in Australia and internationally, as well as its leading team of private equity lawyers. "Clayton Utz has deliberately built a team of private equity specialists who not only know the laws that relate to private equity; we are able to bring together many years of experience of advising managers on fund structuring, AFS licensing, managed investment scheme issues, tax issues, debt leveraging and, of course, investments and exits."
Williamson said the private equity market in Australia was now clearly segmented, with different funds and fund managers focused on different sectors - from large buyouts and expansion capital to media and technology, biotech and seed funds, all of which operate on a national basis. "There is now very significant and growing demand from Australian superannuation funds and offshore investors to invest in quality Australian private equity funds across a number of different segments and Clayton Utz is at the forefront of this growing sector," said Williamson.
Clayton Utz has a national private equity team led by partner Philip Kapp, with specialists in each of the firm's offices. In Sydney, in addition to Mark Williamson, Clayton Utz's private equity specialists include partners Philip Kapp and David Stammers focusing on private equity - M&A and fundraising, partner Jonathan Donald and special counsel Brandon Lamers on private equity - tax, partner Michael Riches on private equity - debt finance, partner Michael Reede private equity - media and telcos and our emerging companies and enterprise growth specialists partner Peter Shaw and special counsel Trish Williams. Commented Williamson: "With our expert national private equity coverage, we are well placed to capitalise on the continued growth and level of activity in all aspects of private equity."
