QIC Private Debt has supported Pacific Equity Partners’ (PEP) acquisition of ATOM Group – PEP’s first investment for their Fund VII - by providing an A$32 million commitment into the senior secured acquisition financing facilities to ATOM Group.
ATOM Group is Australia’s second largest industrial and safety goods distributor by market share with national distribution capabilities and scale.
ATOM offers a one-stop-shop servicing a range of blue-chip customers in diversified industries nationally. Products range from personal protective equipment and safety signage to traffic control and office supplies.
Phil Miall, Head of Multi-Sector Private Debt, QIC said they were pleased to support PEP in their acquisition and continue to deliver value for clients.
“ATOM has a diversified and stable revenue base, with wide sector and geographic coverage and extensive range of products, making it a solid value proposition and compelling investment opportunity,” Mr Miall said.
Mr Miall added that it was an ideal time to consider private debt as part of an investment portfolio.
“The increase in base rates since early-2022, along with relatively elevated credit spreads, have resulted in private debt yielding greater returns than those seen by this asset class over the past decade.”
QIC Private Debt launched in 2021 and now has over US$1bn of assets under management (AUM) and committed capital, split across Multi-Sector Private Debt and Private Debt Infrastructure, across four offices in Sydney, Brisbane, New York and London.
“Within our Multi-Sector Private Debt capability, our Australian market knowledge, direct origination focus and discerning approach to investment selection, enables us to move quickly and build diverse portfolios with attractive income and capital stability,” said Mr Miall.
“Our collaborative approach fosters genuine partnerships with our clients to navigate market cycles and opportunities together.”
Further information
QIC is a long-term specialist manager in alternatives offering infrastructure, real estate, private capital, private debt, natural capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$111bn (US$72bn) in funds under management. QIC has over 900 employees and serves approximately 115 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, San Francisco and London. For more information, please visit: www.qic.com. (as at 31 March 2024)
QIC Private Debt offers institutional investors exposure to diversified debt investments across infrastructure (within the OECD), and corporate, asset-backed securities and real estate sectors (in Australia/New Zealand). Established in 2021, QIC Private Debt now has over US$1bn of assets under management and committed capital, split across Multi-Sector Private Debt and Private Debt Infrastructure offerings. (as at 31 December 2023).
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager, and its products and services are not directly available to, and this document may not be provided to any, retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (QLD). QIC is also regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Other wholly owned subsidiaries of QIC do hold AFS licences and are required to comply with relevant provisions of the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission. For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.
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