SYDNEY: At an industry gala dinner event held earlier tonight, the Australian Private Equity and Venture Capital Association (AVCAL) formally changed its corporate identity and brand, and is now known as the Australian Investment Council.
The decision to change to the Australian Investment Council was championed by the organisation’s Board of Directors on behalf of all 200+ member firms, to better reflect the breadth of the private capital industry’s role in supporting the growth of thousands of Australian businesses across every sector of the market.
Since it was established in 1992, the association, which has its origins in venture capital and then private equity, has grown to represent an industry that now that manages more than $26bn in assets on behalf of a wide range of investors such as superannuation and pension funds all over the world.
Through that investment capital, the Australian private capital industry supports more than 327,000 jobs and $43bn in economic output each year, according to the latest analysis completed by Deloitte Access Economics.
Australian Investment Council Chief Executive, Yasser El-Ansary, said the change in identity was an important step-change in growing the contribution of private capital investment within the economy, and ensuring that the industry played a much more significant front-line role in helping governments to shape economic policies that support new investment into Australian businesses.
“Over the past 25 years, our industry has invested in thousands of Australian businesses that form the backbone of our economy. The role our industry plays in bringing capital and active strategic support to the businesses they invest into is both unique and immensely important to the economy,” said El-Ansary.
“We want to expand the pipeline of investment capital flowing into Australian businesses, because we need to fuel the growth of our economy through innovation and technological change, while at the same time improving productivity and international competitiveness,” said El-Ansary.
In the last five years alone, the industry has raised more $19bn in new capital commitments from investors and has invested $17bn into Australian businesses. There is currently more than $9bn in capital available to be invested into businesses in the next few years, which is good news for any Australian business that is seeking to capitalise on the opportunity to expand domestically and internationally with the support of partners who can deliver significant value-add as part of a long-term growth strategy.
A recent report by leading global private markets intelligence firm Preqin predicted that the growth in private capital could outpace hedge funds in coming years, with assets under management potentially topping $4.9tr* by 2023.
The change in corporate identity and brand takes effect from today.
*Preqin Future of Alternatives Report, 2018
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About the Australian Investment Council:
The Australian Investment Council is the voice of private capital in Australia. Private capital investment has played a central role in the growth and expansion of hundreds of businesses, which when combined represents a multi-billion dollar contribution to the Australian economy. Our members are the standard-bearers of professional investment and include: private equity, venture capital and private credit funds, alongside institutional investors such as superannuation and sovereign wealth funds, as well as leading financial, legal and operational advisers.
The Australian Investment Council requests its name always appear in full and not abbreviated or as an acronym. www.aic.co