ANZ Private Equity Management Limited (PEM) is the investment manager of the ANZ Business Equity Fund (BEF - a closed ended private equity fund for sophisticated investors), which comprised of the ANZ Business Equity Trust (BET) and ANZ Business Equity Fund Limited (BEFL). Units in BET were stapled to shares in BEFL. BEF co-invested alongside ANZ's own private equity business. PEM is a wholly-owned subsidiary of Australia and New Zealand Banking Group Limited (ANZ). ANZ operates in a large number of countries (including Australia, New Zealand and the Asia-Pacific region). The trustee of BET is ANZ Specialist Asset Management Limited (another wholly-owned subidsdiary of ANZ). BEFL was placed in voluntary liquidation as part of the wind-down of BEF. BET remains in place until the remaining assets have been sold or otherwise disposed. ANZ's own private equity portfolio has also been subject to an orderly winding-down programme, consistent with ANZ's previously stated objective to close its private equity operations in favour of focussing on core business.ANZ Private Equity Management is no longer active.
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