Anchorage Capital Partners

Anchorage Capital Partners was founded in 2007 by Phillip Cave, Daniel Wong and Michael Briggs.^[1][2][3] Cave had worked in private equity during the 1980s on transactions involving Australian brands including Victa and Sunbeam, and later served as an executive director at Macquarie Bank.^[4][5]

The firm’s senior leadership team includes Phillip Cave and managing partners Simon Woodhouse and Callen O’Brien. In 2024, Edward Bostock joined the firm as a managing partner, having previously served as chief financial officer of Wesfarmers Health and worked in private equity at Pacific Equity Partners and Kohlberg Kravis Roberts & Co.^[6]

Summarize Timeline Fact Check

In 2007, Anchorage bought the Australian-owned canned fruit company Golden Circle and sold it about six months later to Heinz in America.^[3] In 2009, it bought the New Zealand master franchiser for Burger King, Antares Restaurant Group, which it sold in 2011 to the Blackstone Group.^[3][7][8]

In 2012, the Dick Smith Electronics chain was bought for $20 million.^[9]

In 2013, Anchorage Capital Partners reached a first and final close on its second fund at the hard cap of A$250 million. The vehicle, which came in oversubscribed, spent less than six months in the market. ^[10]

Between 2010-2014, the firm traded several businesses including First Engineering and Bisalloy Steel Group.^[11] . In 2014, Anchorage's irrigation company Total Eden was sold to Ruralco for $57 million.^[12]

In 2017, Anchorage Capital Partners closed its third fund at over A$350 million.^[13] The fund was reportedly oversubscribed and reached a final close within three months of launch.

In 2020, Scott's Refrigerated Logistics, which supplies trucks and warehouses to big supermarket chains in Australia, was bought for about $75 million from Eagers Automotive.^[14] The same year, the rail freight company CF Asia Pacific was bought, and rebranded a year later as Rail First Asset Management.^[15]

In 2021, Anchorage sold its Australia-based childcare business Affinity Education to a private equity buyer.^[16] At the time, Affinity was Australia's second-largest listed childcare business, operating 161 centres nationwide with a daily licensed capacity of 12,682 children.

In 2021, it acquired financial software group GBST Holdings.^[17]

In 2021, the firm bought clothing and footwear retailer Brand Collective from Pacific Brands and later sold it to the LK Group, the holding company of Melbourne businessman Larry Kestelman.^[18][19]

In 2022, Anchorage completed the sale of Rail First, an Australian provider of rolling stock leasing and maintenance services, to a consortium of infrastructure investors.^[20]

In 2022, the David Jones department store chain was bought from Woolworths South Africa. David Jones is one of Australia's most recognizable brands and is the world's oldest department store.^{[5] [21][22]}

In 2023, Anchorage Capital Partners closed its fourth institutional fund after surpassing its A$500 million target.^[23]

In 2023, Anchorage Capital Partners acquired the community healthcare business of New Zealand–based Green Cross Health, which provides in‑home nursing, personal care, rehabilitation, social support, and household assistance services under the Access Community Health brand.^[24] Access Community Health traces its origins to 1927, when members of the Women’s Division of Federated Farmers, known as “bush nurses”, provided healthcare services to people in isolated rural communities.

In 2026, Anchorage Capital Partners agreed to acquire 100% of HMA International, an Australian industrial products and services group, via a scheme of arrangement.^[25]

As at December 2025, Anchorage Capital Partners is estimated to manage over $1 billion in assets under management. Previous funds were speculated to have generated returns of over 40 per cent.^[26]

Notable former investments include Brand Collective, Burger King, Dick Smith, Golden Circle, RailFirst and Total Eden. Other investments have been in a diverse range of industries such as childcare, facilities management, manufacturing, industrials, technology services and telecommunications. ^[27]

Fund	Year closed	Capital
Anchorage Capital Partners Fund I	2008[28]	$200 million[3]
Anchorage Capital Partners Fund II	2013[28]	$250 million[29]
Anchorage Capital Partners Fund III	2017[28]	$350 million[30]
Anchorage Capital Partners Fund IV	2023[28]	$500 million[31]

Anchorage Capital Partners is associated with Ability First Australia, a not‑for‑profit alliance of disability service providers operating across Australia.^[32] Ability First Australia comprises 14 member organisations and states that its members collectively support approximately 20% of participants in the National Disability Insurance Scheme, employ more than 30,000 staff, and deliver services valued at about A$2.4 billion annually.