Australia’s original and most successful private equity group Pacific Equity Partners (PEP) looked over Serenitas for up to 12 months before approaching residential developer Mirvac to join it 50/50 to pay $1 billion, and place Mirvac in the drivers’ seat to deliver aggressive profit growth. PEP likes to sell investments within five to seven years and more than double its money. No pressu...
DIGITAL EDITION
Issue 64
Pacific Equity Partners just paid $500M for 50% of land lease operator Serenitas and expects 25% profit growth p.a. – can Mirvac and management deliver?
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