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Private enterprise

Private equity has been attracting increasing attention from investors such as pension funds. However, many remain unclear about the intricacies of the industry. In this paper by the Journal of the Securities Institute of Australia (JASSA) Peter O'Reilly and Jenny Diggle give an overview of the industry and how it has grown in Australia.

As the asset class grows, institutional investors are becoming more aware of the finer details of the private equity fund-raising process. It is also essential, however, that they realise the nature of how their money is deployed and how they will realise their investments in what is an illiquid industry.

Copyright © 2002 JASSA

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Peter O'Reilly is manager, treasury risk management services, ANZ Banking Group Ltd.

Jenny Diggle is director, industry research at RMIT Business.

JASSA is committed to raising standards in the securities and financial services industry. For more information please visit www.securities.edu.au