Quadrant exits remaining stake in Summerset for $155M, reaping a total of $424M from sell down

Thu, 17 Oct 2013

Oct. 18 (BusinessDesk) - Australia’s Quadrant Private Equity sold down its remaining stake in New Zealand retirement operator and developer Summerset Group Holdings for $155 million. QPE Funds Management, the Quadrant unit that held the stock, sold 50 million shares at $3.10 apiece to local institutions, according to a substantial shareholder notice filed with the stock exchange. Trading in the shares was halted today to let the sale proceed. They last traded at $3.14. The final sell down means Quadrant has reaped about $424.4 million from a...

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