IPE Limited holds long-term investments in private equity funds. It seeks to make co-investments and secondary investments in private equity. The firm seeks to invest in liquid listed equities, cash, and fixed interest while the private equity portfolio is being established. The firm seeks to invest in Australian and New Zealand based private equity firms. The firm seeks to take controlling stake in its portfolio companies. As of August 31, 2018, IPE Limited operates as a subsidiary of Mercantile OFM Pty Limited. IPE Limited was founded in 2004 and is based in Sydney, Australia.