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Allegro Spring Newsletter

ALLEGRO NEWS: Spring edition
Chester and Adrian

Welcome to the Spring edition of the Allegro newsletter. Our year so far has been busy in a very different way. We’re excited to share with you what we’ve been up to during this time, and our general view on the market going forward.

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Successfully Recapitalising Businesses from a Private Equity Perspective

10 Essential tips from one of Australia’s most experienced distressed business investors
Adrian Loader, Founding Partner, Allegro Funds

What an amazing two months it has been. The world imploded and by mid-March many insolvency practitioners thought there was going to be a wave of insolvencies starting in April. This did not occur because the government changed the insolvency laws and pumped the economy with over $200 billion.

Consequently, the immediate insolvency crisis has been replaced by a liquidity crisis that will face many Australian businesses over the next six months.

Many practitioners will have clients who will need to address this liquidity problem and will seek to raise capital from a private equity sponsor.

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Australian Investment Council 2019 Award for Leadership in Diversity & Inclusion

We are proud to announce that earlier this month Allegro was awarded the Australian Investment Council 2019 Award for Leadership in Diversity & Inclusion. The Leadership in Diversity and Inclusion Award recognises those private capital investment firms whose diverse range of people within their organisation includes a wide range of backgrounds that encompasses different skills, talents and perspectives. It also recognises those firms who celebrate inclusive workplace environments that promote individual differences, embrace team strengths and provide initiatives and opportunities for all team members to fulfil their potential.

Allegro are proud to accept this award, which recognises how we, as a firm, celebrate diversity and inclusion in our workplace. We see the positive impact that such a diverse and inclusive culture has had on our own decision making, relationships, operations, financial performance and the experiences with our stakeholders. We value inclusiveness and diversity as we continue to strive to building better businesses, contribute to job creation and drive future growth. These are key values which reside not only within Allegro’s ethos, but also in how we approach investment opportunities, navigate rebuilding great businesses and developing specialised talent through transformational capital.

We thank the Australian Investment Council for this award and congratulate the other outstanding firms across the private capital sector.

Allegro partners with leading doctor-led Australian radiology practice

Allegro Fund III has has agreed terms to make a significant investment in Western Australia’s largest diagnostic imaging provider, Perth Radiological Clinic (PRC), in partnership with the existing doctors.

The partnership was established in 1948 and PRC is Australia’s largest private partner radiology business with more than 80 doctors (partners and employed associates). The business will continue to operate via the partnership and service entity that services hospitals (public and private), specialist centres and suburban clinics and will retain majority ownership by the doctors. Read more

Allegro Fund III invests in leading industrial company Questas Group

Allegro Fund III has finalised its latest investment by acquiring a stake in Australian industrial firm Questas, partnering with the company owner to jointly grow the business.

Established in 1996, Questas comprises a group of associated companies operating through a national branch network to provide hydraulic, irrigation, pump and engine solutions to the mining, construction, agricultural and general industrial sectors. Read more

Allegro’s Tenth Birthday

Allegro turns ten this month. We couldn’t have done it without You!

We’d like to acknowledge and thank the many supporters who have contributed over the past 10 years to our established position as transformational experts in the private equity space.

Looking back over the decade there is plenty that we’re proud of. Allegro, launched in 2008, and Fund I was followed by our second fund in 2015, closing on $180 million of equity and making successful investments in nine companies in Australia and New Zealand. We closed Fund III in December 2017 and we’re currently investing approximately $400 million in committed capital from local and international investors.

Allegro lives by its purpose – WE BELIEVE IN BETTER, consequently our focus remains on transformation and operational improvement. We have a unique hands on approach that has resulted in the successful management of more than $1 billion of FUM, maximising returns for our investors.

Finally, we acknowledge and sincerely thank everyone who has contributed to our success, including our world-class investors, high-calibre employees (and their families!), operating partners, portfolio companies and trusted advisors.

We look forward to many more years of continued growth and above average returns.

Thank you.
Adrian and Chester – Allegro Funds