Yesterday
- Exclusive
- Managed funds
Ed Peter’s Duxton empire in pain as it cuts jobs, sells properties
The former bank executive has built a considerable asset management business with wealthy backers. But tough times have forced it to restructure – and shrink.
September
- Exclusive
- Rich families
How the wealthy daughters of Westfield co-founder John Saunders invest
Previously unreported filings for Terrace Tower, owned by the late businessman’s family, reveal assets worth $1.85 billion. But it has been a bumpy two years.
- Updated
- Gaming & wagering
Online casino mogul gets into lotteries as profits surge
Revenues at Virtual Gaming Worlds, which pioneered the use of a loophole to offer casino-like games with cash prizes in the US, has soared above $6 billion, accounts show.
- Updated
Andrew Hagger and Guy Debelle in new advisory firm for the ultra rich
The startup, Famille Capital, has been quietly building up a team over the past year.
August
Double your salary, no tax: Meet the Aussies moving to Saudi Arabia
The rulers of the country, once a pariah state, are turbocharging efforts to rehabilitate its image. And there are plenty of expats enjoying the ride.
Billionaire Laurence Escalante’s gaming empire under attack
Virtual Gaming Worlds is facing increasing competition and regulatory pressures in the United States, its main market.
- Exclusive
- Responsible lending
Melbourne private capital firm lands in ASIC’s line of sight
Oak Capital describes itself as a “mid-tier” non-bank lender and specialises in real estate financing. The regulator has stepped up it scrutiny of the sector.
Overdue loans swamp private credit giant lending to Sydney’s wealthy
The local lender has previously written loans for some of Sydney’s most colourful businessmen. Growing arrears aren’t always made clear to its investors.
- Exclusive
- Pubs
Lenders tried to sell Jon Adgemis’ pubs to Justin Hemmes’ Merivale
Merivale was shown internal financial spreadsheets by one major lender, but ultimately decided against exploring a deal, sources said.
July
This private credit fund is going big on companies failing ESG tests
Balmain Corporation said it had considered calling the strategy a “Vulture Series” – but decided naming it after a different bird of prey was more appropriate.
Class action claims Aristocrat breaking gambling laws
Lightning Link, Heart of Vegas and other social casino games are a lucrative and growing business. But some users allege the company is being misleading.
Jon Adgemis’ Paddington pub housing El Primo Sanchez up for sale
The move follows a complex refinancing effort of Mr Adgemis’ Public Hospitality empire involving Deutsche Bank, Muzinich and Archibald Capital’s Ben Madsen.
- Exclusive
- Sales
Rivers of gold from Surfers Paradise towers flow to ex-Evergrande exec
A local real estate developer with extensive links to the collapsed Chinese property giant says it has more than $500 million in unsold units on the Gold Coast.
Fast cars, pricey digs: the luxurious (rented) life of Jon Adgemis
As he tries to sort out his creditors, the former KPMG dealmaker still gives his address as one of Point Piper’s more luxurious piles.
- Exclusive
- Renewables
Grok Ventures boss woos wealthy families for Sun Cable
The chief executive of Mike Cannon-Brookes’ private vehicle is plotting a pivot – opening it up to outside investors.
Perth billionaire Escalante battles copycats and hostile letters in US
The businessman created a lucrative gambling market stateside from scratch. Now competition and regulation may force the company to change tack.
June
CoinSpot’s billionaire owner grabs huge dividend payout
But the company, one of the country’s largest cryptocurrency exchanges, has reported a near 75 per cent slide in profit in the last financial year.
Hollywood’s Jon Adgemis scores another courtroom cameo
Sweet dreams are over for Jon Adgemis – who has shown this country the true potential of private credit as an asset class – with reality closing in.
Rich Lister’s ‘billion dollar’ company faces $79m loss
Shaun Bonett bought into Prezzee in 2015 and has slowly increased his control over the business. New figures reveal it lost $79 million in the 18 months to December 31.
Who’s who in the Guzman y Gomez fiesta
This wasn’t an IPO debut. It was a pep rally. Steven Marks gathers the believers for his special debut on the ASX.