Roc Partners has announced the launch of its new evergreen private equity fund, the Roc Summit Private Equity Fund.
The first of its kind in Australia, according to the firm, the investment vehicle aims to provide access to a portfolio of primarily Australian and New Zealand private equity investments. This, Roc said, will give wholesale investors a “convenient approach” to investing in a historically institutional asset class.
“Roc Partners’ extensive experience and long-standing track record in Australian and New Zealand private equity markets has provided the foundation for launching Australia’s most diversified evergreen private equity fund,” group managing partner Michael Lukin said.
“We’re excited to bring this opportunity to wholesale investors, offering them a rare opportunity to access a highly curated and well-balanced portfolio of private equity investments.”
According to the firm, its latest venture, Roc Summit, seeks to provide the same calibre of investments offered to larger sophisticated investors in Australia, to high-net-worth investors via an open-ended vehicle.
This will be done by targeting net annualised returns of 12–15 per cent via a portfolio of more than 100 private companies.
Expounding on this, Roc Partners confirmed it will allocate capital across primary and secondary fund investments, as well as direct opportunities like co-investments. Moreover, a potential seed asset has been identified, according to the investment manager.
“Roc Summit allows investors to access private equity opportunities once reserved for institutional giants,” Lukin added.
“We’re seeing a notable increase in high-net worth investors seeking new ways to grow and diversify their portfolios, and accessible, investor-friendly products like Roc Summit are harnessing the wealth-building opportunities presented by private equity,” he said.
This comes as recent data from Capgemini highlights a 7.9 per cent increase in Australia’s high-net-worth investor segment in 2023, surpassing the global average of 4.7 per cent.
Other research also reflects this shift, including the Australian Investment Council revealing a decline in institutional investors’ share of private equity from 47 per cent in 2019 to just 20 per cent in 2023, while family office participation has surged from 7 per cent to 36 per cent.
