SuperChoice Partners with ICG for Growth
Deal News | Apr 03, 2025 | Intermediate Capital Group (ICG)
Intermediate Capital Group (ICG), a leading alternative asset manager, has announced a new partnership with SuperChoice, a premier B2B financial technology platform in Australia specializing in superannuation and payroll. The partnership marks the exit of the firm's existing partner, Potentia Capital. SuperChoice, recognized for its robust platform, serves over 14 million Australian workers. ICG aims to utilize its extensive experience and industry insight to bolster SuperChoice's growth and readiness for regulatory changes, particularly the transition to the New Payments Platform. This is ICG's ninth partnership under its Asia Pacific Fund IV, illustrating their ongoing commitment to expansion and strategic investment in the superannuation sector. The financial terms of the partnership remain undisclosed.
Sectors
- Private Equity
- Financial Technology
- Superannuation Services
Geography
- Australia – SuperChoice, the target company, is based in Australia and focuses on the superannuation market for Australian workers.
- Asia Pacific – ICG's Asia Pacific Corporate team is leading this transaction, highlighting the geographical focus on the Asia Pacific region.
Industry
- Private Equity – ICG is a global alternative asset manager involved in private equity transactions, such as partnering with SuperChoice.
- Financial Technology – SuperChoice is a key player in providing technology solutions for the superannuation and payroll industries.
- Superannuation Services – SuperChoice specializes in the Australian superannuation sector, offering payment platform solutions.
Financials
- $1.1bn – The amount raised by ICG Asia Pacific Fund IV, which includes the SuperChoice transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Intermediate Capital Group (ICG) | Bidding Company | Company | A global alternative asset manager involved in this transaction as the new partner for SuperChoice. |
| SuperChoice | Target Company | Company | An Australian technology platform specializing in superannuation and payroll solutions. |
| Potentia Capital | Selling Company | Company | The previous partner of SuperChoice, now fully exiting the business. |
| John Hawkins | Industry Expert | Person | Former CFO of Link Group and Director of Pexa, part of ICG's partner consortium. |
| Mick Dempsey | Industry Expert | Person | Founder of Ezidebit, part of ICG's partner consortium. |
| Richard Breden | CEO of SuperChoice | Person | Leading SuperChoice through its new partnership with ICG. |
| Andrew Gray | Managing Director of Potentia | Person | Commented on Potentia's previous involvement with SuperChoice. |