Today
Gambling billionaire Escalante in expletive-ridden rant to investors
Perth gambling billionaire Laurence Escalante has told investors to sell their shares in his gaming business Virtual Gaming Worlds if they don’t trust him.
Yesterday
MA Financial teams with Sumitomo Mitsui, Monroe for $1.7bn US play
MA’s head of credit says smaller lenders that have rushed into private lending may struggle to survive amid a need for diversification.
This Month
Adgemis fights bankruptcy while holed up in a billionaire’s Bondi pad
The former KPMG dealmaker turned pub owner has lost a key court battle and is trying to stave off eviction from his family’s home in Sydney’s eastern suburbs.
April
Why cashing out won’t be easy for Australia’s gambling billionaires
Adrian Portelli, Laurence Escalante and Ed Craven could all face big problems if they try to sell their companies or go public.
Inside the fortune Kerry Stokes (quietly) made in China
The businessman is best known for his investments in television and newspapers. But a decades-long approach to backing the Asian powerhouse is paying dividends.
Major water rights fund investors consider turfing management
Ed Peter, the former head of Deutsche Asset Management in Asia, will also step down as chairman of the $290 million Duxton Water after the vote.
The secret Ferrari fire sale while dozens are out of pocket
James Zhang lived large. Is he now about to sail off into the sunset?
March
Yorkway Private raises $10m for One Investment to sweep away iProsperity
One Investment Group was tangled up in one of Australia’s biggest frauds. Now, former AMP chief executive Paul Batchelor’s Yorkway Private offers a way out.
ASIC demands answers from private credit as it beefs up surveillance
ASIC has given a select group of private credit funds until mid next month to explain how they value assets, manage conflicts and look after its investors’ interests.
SQM issues warning on private credit after uptick in bad loans
One of the largest ratings agencies said it was concerned by “questionable” practices and a lack of transparency in the non-bank lending sector.
Metrics hits back at critics, says there’s plenty of money flowing in
The private credit giant held a conference call with investors after a big financial planner recommended advisers sell their funds.
Financial planning giant abruptly tells advisers to sell Metrics funds
Count Financial said it would also launch a wide-ranging review of private credit to assess whether the returns were still work the risk after recent turmoil.
The stressful life of Sydney’s left-of-field distressed debt broker
Ben Madsen has long had a low profile. Now he’s found himself the centre of unwanted attention, and is fighting for his home. Can he come back from the brink?
Billionaire Nicola Forrest appoints UBank boss to run family office
The country’s second-richest woman has been building up the charitable and investment sides of her family office, Coaxial Foundation and Coaxial Ventures.
Melbourne private lender spruiks funds despite gating redemptions
Banner Asset Management was the largest lender to the glitzy Chevron One development on the Gold Coast, and stopped allowing withdrawals more than a year ago.
‘Do we just keep fighting?’ Morrison’s advice to Zelensky
The former prime minister told a room of executives and business leaders to look past the US president’s “sound and fury” to his aim – peace in Europe.
Accounts show billionaire Ed Craven’s private vehicle in revenue surge
The Stake.com co-founder’s Easygo Solutions also has hundreds of millions of dollars in cryptocurrency holdings, its financial statements show.
‘It’s the Wild West’: Why ASIC is worried about private credit
Private credit firms are scrambling to manage problem loans, as the regulator sets its sights on lax governance.
February
What family offices are investing in
This booming sector likes to keep a low profile. But its secrets aren’t always far from the surface.
The secretive billionaire who has had Richard White’s back for 20 years
WiseTech director and major shareholder Charles Gibbon has always been known as the master of the exit. How will he navigate WiseTech’s latest governance saga?