Business
Biebs alert! PEP taps new fund, two lenders for Modern Star – The Australian Financial Review
Project Bieber will see PEP deploy its new Fund VI and invest alongside Modern Star’s management and founder.
It is understood PEP plans to cut the cheque from its newly raised Fund VI, which is worth $2.5 billion and is the second biggest buyout fund in the hands of an Australian manager.
The Fund VI equity commitment will be matched with debt from Morgan Stanley – also one of Navis Capital’s advisers – and HPS Partners to complete the acquisition.
PEP managing director Shannon Wolfers oversaw the acquisition, with colleague Duncan Orr. Steven Siewert
Sources said the funding package would be a uni…
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