Brookfield in Australian PE hall of shame for huge Healthscope loss
The Canadian giant and its investors put in $2 billion and are getting nothing out. If it is not the biggest loss in Australian private equity, it is in the top three.
Australia has a long history of big private equity bets going bust.
Most of them were foreseeable with a bit of hindsight – risky bets in cyclical industries like media, tourism and retail on companies that couldn’t handle private equity-sized debt loads in a downturn.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com