In August 2021, the VPEG4 Investment Committee approved a $30 million investment commitment to Allegro Fund IV, a mid-market turnaround and special situations manager based in Sydney, managed by Allegro Funds Pty Ltd.
Allegro Fund IV (Allegro IV), is managed by Allegro Funds Pty Ltd (www.allegrofunds.com.au) of Sydney Australia. Allegro IV is a $600 million turnaround fund with an investment focus on primarily mid market businesses with an enterprise value of up to $500 million.
Allegro are specialists in “Transformational Capital” – applying capital and expertise to unlock and create value. Allegro invest equity funds on behalf of their investors, and work in partnership with management to realise growth potential and deliver enduring value to their investors.
In September 2008, Allegro became the first fund manager to be backed unanimously by institutional investors to replace the incumbent manager of an Australian private equity fund, when it was appointed to manage the $300 million ABN AMRO Capital Australia Fund II (renamed Allegro Private Equity Fund I).
In June 2015, Allegro Fund II completed its final close with total commitments of $180 million. Allegro II subsequently invested in eight businesses across Australia and New Zealand.
In December 2017, Allegro III completed its final close with total commitments of $290 million. Allegro III subsequently invested in six businesses across Australia and New Zealand.
Today Allegro is recognised as a leading fund manager in the mid-market segment. Allegro’s team, which includes twenty six investment professionals, bring deep and varied experience in investing, turnaround management and operational value creation. Allegro have a proven ability to originate, evaluate and execute quality deals, and to drive value from mid-market businesses.
An active manager of portfolio assets, Allegro prefers hands-on involvement in both strategy and overseeing operational improvement. Allegro believe that staying close to portfolio companies is the surest path to extracting the value, and returns, that investors demand.
As the winner of the TMA Turnaround of the Year Awards in 2008, 2010, 2011 2012, 2016 and 2021 Allegro are the most recognised and awarded turnaround team in Australia. The top-tier performance of Allegro Funds I, II and III bears the hallmark of their distinctive investment approach.
Allegro Capital IV has completed three investments to date; Gull NZ, Slater & Gordon and Scyne Advosry.
