New fund for PE powerhouse Mercury

Trans-Tasman private equity firm Mercury Capital is one to watch after raising a third fund following its acquisition of a 30% stake in Australian SMS marketing company MessageMedia.

Mercury is headed by Kiwi-born Clark Perkins, a former Goldman Sachs deal maker, and boasts high profile New Zealand directors in Craig Heatley, Tom Sturgess and Geoff Ricketts.

Mercury is understood to have raised $600 million from its loyal investor base following previous funds totalling $300m and $120m since it began in 2010.

The fund has had some big wins, including its divestment of biotech research firm Novotech in 2017 which saw Mercury pocket A$161 million from a $20m outlay.

More recently, Mercury has bought into Kiwi tourism company Volunteer HQ and taken a 50% stake in independent primary health care group, Nirvana Health.

Companies Office records show a new Mercury vehicle was incorporated in New Zealand on October 23 prompting some intrigue from market watchers anticipating the next acquisition.

Meanwhile, Perkins and his family have recently bought a new waterfront pad in Sydney for $30m, according to the Sydney Morning Herald.