Meet the Wall Street deal legends behind the sale of MLC
The private equity firm that’s nabbed MLC owner Insignia Financial has two Wall Street titans driving its latest deal. They’ll need plenty of patience.
Time typically kills deals. But Chinh Chu, the founder of New York private equity firm CC Capital, hopes time will be the making of his $3.3 billion acquisition of Insignia Financial, owner of superannuation giant MLC.
It has been eight months since Bain Capital made the first private equity bid for Insignia but it feels a lot longer. Since then, Insignia has flushed out two more PE bidders – Brookfield and CC Capital – and Donald Trump has turned the world and financial markets upside down.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
