Pacific Equity Partners

Pacific Equity Partners (PEP) is a private equity investment firm focusing on transactions in Australia and New Zealand. PEP invests across a range of industries and sectors, in turnaround and growth capital transactions. By 2023, The Australian Financial Review reported PEP to be Australia's largest private equity firm.

It is also said to be Australia's oldest private equity company. The firm, based in Sydney, was founded in 1998 by Rickard Gardell, Paul McCullagh, Simon Pillar and Tim Sims. All but McCullagh previously worked together as executives at Bain & Company.

PEP has generated several buyout funds for investors. By 2022, these funds had $8.6 billion under management. By 2025, these funds had $14 billion under management.

In 2023, the firm launched its first 'Gateway fund,' a mechanism allowing private investors to access global private equity investing with reduced initial investment requirements. The Gateway fund has been delivering returns of up to 20% for two consecutive years. In this approach, capital is distributed into PEP funds alongside funds from high-end global private equity firms such as Bain Capital and Leonard Green & Partners.

PEP opened its seventh buyout fund, called Fund VII, in 2024, expecting to close later that year at A$3 billion. This would be one of the largest Australian funds of its kind.