Clarendons advises Auctus on investment in PETstock, Asian expansion and strategic investment in Impact Investment Partners

Clarendon Lawyers is delighted to have advised Auctus Investment Group Limited (ASX: AVC) on three recent transactions:

    • the $50m investment by the Pet Fund in PETstock Pty Ltd (PETstock), Australia and New Zealand’s largest private, family owned omni-channel pet speciality retailer;
    • AVC’s initial acquisition of a 9.9% stake (with options to acquire 100%) in Odyssey Group Limited (Odyssey), a global private market investment manager with licensed operations in Singapore and Hong Kong and total assets under management and advice of US$180m; and
    • AVC’s initial acquisition of a 7% stake (with the ability to acquire up to 24%) in Impact Investment Partners Pty Ltd (IIP), an investment manager focused on identifying and building essential infrastructure and social infrastructure assets in, and for, Australia’s Indigenous communities.

All three transactions represent significant but differentiated milestones for AVC:

    • PETstock was AVC’s first AUD domiciled large scale private equity investment. It was also the first external equity raise by PETstock outside of family and friends with the funds raised to be used to strengthen PETstock’s balance sheet and support its exciting growth prospects;
    • the Odyssey investment will significantly expand AVC’s distribution capacity and allow it to offer its high quality, differentiated investment offerings, such as the US Student Housing Fund S.P that AVC has jointly launched with Odyssey into Asia; and
    • IIP represents a unique opportunity for AVC to align its existing funds and relationships across healthcare, energy infrastructure and student housing with a team that specialises in improving Indigenous economic participation in, and access to, Infrastructure services.

The Clarendons Lawyers team was led by Director, Nick Manuell, with support from Associate Zhong Wu and Lawyers Jordy Finch, Laura Chesney and Nikhil Sachdev. Separate teams at Norton Rose Fulbright acted for PETstock and IIP, with Reed Smith Richards Butler acting for Odyssey.

AVC is an ASX listed global investment manager with approximately A$320M Assets Under Management, focusing on opportunities across private equity, infrastructure and private real estate. Its core investment thesis is investing in sectors with strong tailwinds and potential to scale. AVC provides access to these private market investments for wholesale, Family Office and sophisticated investors.

These three transactions continued Clarendon Lawyers’ long-standing association with AVC management.