Stafford completes acquisition of US$700m of specialty fund of funds; funds under management rise to US$3.3bn

June, 2014

Stafford Capital Partners (“Stafford”) has completed the acquisition of the specialty Infrastructure Secondaries[1], Sustainable Capital and Venture Capital Fund of Funds management businesses from Macquarie Investment Services Limited and Macquarie Investment Management Limited (“Macquarie”). The funds, until this point, formed part of the Macquarie Private Markets business, and together total approximately $700M of assets transferred.

Stafford, through its sister companies Stafford Private Equity and Stafford Timberland, already has specialist teams that invest in the infrastructure, private equity and timber markets. This, together with the expansion into Sustainable and Venture Capital, provides a rare single point of access to these international markets at a time when institutional investors are looking to consolidate the number of managers they work with.

Stafford is pleased to announce that all key people associated with these businesses have agreed to join Stafford. They will greatly enhance Stafford’s capability in all areas. Rick Fratus, Kurt Faulhaber and Andy Betz join in the US, based in San Diego, with Erica Bushner continuing in an advisory capacity. Ingo Marten and William Greene will be joining in Europe, based in Zurich. Stafford’s team, totaling 29 professionals, combines a deep sector-specific knowledge with the sourcing, negotiation and execution skills of highly experienced investment professionals.

This acquisition enables Stafford to source secondary, co-investment, and primary deals across a broader range of asset classes, thereby strengthening our relationships in the market.

Angus Whiteley, CEO of Stafford Private Equity, commented: “Stafford offers investors access to alternative assets in a highly responsive way. We focus on adding value in niche sectors with our industry experts providing deep insight into the value of the underlying assets. Through this we form long-standing relationships with the managers we support, which in turn provides us with an enviable proprietary deal flow. This delivers returns for investors.

The acquisition brings highly capable subject-matter experts in the areas of infrastructure (to add to our existing team), sustainable investments and venture capital. This is a very exciting development for Stafford as we look to make life easier for our clients through a single point of access to this diverse market.“

Ben Bruck, Global Head of Macquarie Investment Management, said: “We are delighted to have selected Stafford for this transaction. Our fund-of-funds businesses compete in specialized niches which we believe sit best with a dedicated private equity fund-of-funds manager. Stafford’s private equity fund-of-funds experience and niche focus position it well to deliver on the investment objectives of our clients who have supported these funds since their inception.”

[1] Subject to regulatory Approval