SuperChoice Partners with ICG for Strategic Growth
Deal News | Apr 03, 2025 | Intermediate Capital Group (ICG)
Intermediate Capital Group (ICG), a prominent global alternative asset manager, has announced a new partnership with SuperChoice, Australia's leading superannuation payments platform. Previously partnered with Potentia Capital, SuperChoice provides B2B financial technology solutions aimed at navigating the complexities of the Australian superannuation system, interfacing with over 14 million workers. The ICG Asia Pacific Corporate team, along with industry experts such as John Hawkins and Mick Dempsey, aim to utilize their extensive sector expertise to support SuperChoice's technology development and business scaling. This transaction marks the replacement of Potentia Capital, who have completely exited. SuperChoice is now set to advance its technology platform and prepare for compliance with new regulatory frameworks, including a switch to the New Payments Platform. This transaction is supported by $1.1bn raised by ICG's Asia Pacific Fund IV in May 2022. The terms of the transaction were undisclosed but are part of strategic growth initiatives for both parties.
Sectors
- Financial Technology
- Superannuation & Pension Services
- Private Equity
Geography
- Australia – SuperChoice is an Australian company that serves the superannuation sector, and the transaction is directly relevant to the Australian market.
- Asia Pacific – ICG's Asia Pacific Corporate team is involved, highlighting the geographic focus of the investment and partnership.
Industry
- Financial Technology – Relevant because SuperChoice operates as a B2B financial technology provider in the Australian superannuation and payroll sectors.
- Superannuation & Pension Services – This sector is significant as SuperChoice provides services critical to Australia’s superannuation system, managing payments and regulatory compliance.
- Private Equity – ICG is a key player in this sector, facilitating investments and strategic partnerships to enable company growth and exits like that of Potentia Capital.
Financials
- $1.1bn – Amount raised by ICG Asia Pacific Fund IV in May 2022, which supports its recent and current investments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Intermediate Capital Group (ICG) | Buyer/Investing entity | Company | A global alternative asset manager investing in partnerships to foster company growth. |
| SuperChoice | Target company | Company | Australia's leading superannuation payments platform. |
| Potentia Capital | Selling company | Company | Previously partnered with SuperChoice and is now fully exiting the business. |
| John Hawkins | Industry expert/Consortium partner | Person | Former CFO of Link Group and former Director of Pexa. |
| Mick Dempsey | Industry expert/Consortium partner | Person | Founder of Ezidebit. |
| Richard Breden | CEO of SuperChoice | Person | Leads SuperChoice's strategic growth and innovation. |
| Andrew Gray | Managing Director of Potentia Capital | Person | Commented on the past partnership and SuperChoice's strengths. |