Partners Group has become a creditor in the parent company of more than 620 franchises of fast food outlets Red Rooster, Oporto and Chicken Treat.
The Swiss alternatives manager has become the sole mezzanine financier to QuickService Restaurant Holdings, the franchisor and operator of the fast-food outlets, in a $55 million transaction.
Partners Group estimates the Australian fast-food industry generates $13.5 billion in annual sales – of which $2.6 billion pertains to chicken stores – and has generated a compound annual growth rate of 5.5 per cent in the past decade.
The loan was made through two Partners Group funds: the Global Value Fund, which was seeded last week; and the Mezzanine Direct Fund.
The manager was also a mezzanine investor in Collins Foods Group, which owns Sizzler restaurants nationwide and KFC eateries in Queensland. Collins repaid the $45 million loan to Partners Group after completing a $202 million initial public offering in August.