Yesterday
Big super says ‘big beautiful’ Trump bill could cut $3.5b from returns
The budget proposal at the centre of recriminations between the US President and Elon Musk would ramp up taxes on US investments, hurting retirement savings.
Texan investment giant’s $1b buy order pumps up CBA’s share price
A bulky order for the bank’s stock over the past fortnight has helped the country’s biggest lender pass $300 billion market capitalisation.
Land lease communities biz GemLife locks in $750m IPO commitments
The family-owned land lease communities developer has secured firm bids for its $750 million IPO target, after its bankers closed the cornerstone bookbuild on Friday afternoon.
12 ways CBA shares could come back to earth
If the AI revolution disrupts Australia’s economy, our big banks won’t be immune. It’s an example of the sort of war-gaming investors need to start considering.
Lex Greensill ‘slippery and prone to lying’, court told
A former SoftBank executive disclosed the comment in a lawsuit brought by Credit Suisse fund after the collapse of Greensill Capital.
Sympli puts up the white flag, proposes working with arch-rival PEXA
The ASX-listed conveyancing services giant, backed by Commonwealth Bank, says it is “not the role of competitors” to discuss industry structure.
Bain’s done with the Insignia M&A battle, so where’s CC Capital?
Conditions are ripe for the last-standing suitor to reduce its bid.
This Month
John Wylie’s run of bad bets
A rumoured interest in IDP Education adds to the list of troubled investments.
ABA whittles down search for new CEO
The departure of Anna Bligh opens the door, potentially, for another former politician.
Tanarra Capital secures exit at software biz Health Metrics
The buyer is none other than California-headquartered Accel-KKR, back for a second helping at Tanarra’s offices amid its quest to pick off as many promising Aussie start-ups as it can.
Bain Capital seals Virgin’s ASX relisting as fundies commit to IPO
Brokers working on the transaction closed their books hours before expected amid a rush of demand for shares, which are expected to start trading this month.
KKR CEO: Don’t believe ‘private equity is dead’ narrative
But Scott Nuttall, the private equity giant’s co-chief executive, predicts a shakeout as higher interest rates bite poor investments made during the pandemic.
Meet the ex-con behind this $400m private credit business
Kalpi Prasad is riding Australia’s private credit wave, drawing on a troubled past to serve clients who don’t fit neatly into traditional financing.
L1 Capital mulls its Plan B amid Platinum merger diligence
Firm announces purchase of 16.85 per cent stake in Platinum Capital Limited, a $400 million ASX-listed fund that is among its manager’s crown jewels.
The market is more bullish on Commonwealth Bank than Nvidia
It seems nothing can stop CBA’s extraordinary share price rally, which is now threatening to eclipse the magnificent seven tech stocks.
Hunter and Bailey: New power couple emerges in Morgan Stanley’s IB unit
The staff memo went on to list the duo’s recent advisory roles, including advising UK buyout player Permira on its $4 billion radiology giant I-MED.
Peter Thiel-backed Singapore venture pushes into financial advice
Syfe Group says 8 per cent of Singaporeans use its wealth management platform, and its goal is to draw similar numbers to its Selfwealth site in Australia.
Citi names new head of equity capital markets as Jahrling exits
Rob Jahrling’s departure comes after a tough period for the small but important profit centre for the Wall Street bank.
KKR’s CEO on the new rules of private equity (and next big trends)
The firm’s global co-chief executive, Scott Nuttall, says the original barbarian at the gate is in the midst of a period when the old way is being re-written.
Ex-Perpetual fundie lands at Australian Ethical
Co-founder of Ethical Partners Funds Management, Nathan Parkin, will join the ASX-listed firm in the newly created position next week.
Painful private market discounts the key to unlocking IPOs
It is ironic that Virgin launched its listing on the same day ASIC released 50 submissions into its public-private markets review.
Investors cash in as CBA soars past $300b but distortion fears grow
The bank’s relentless share price rise has seen its value soar well above the second-largest stock, BHP, despite brokers broadly considering it overpriced.
Ex-Macquarie equities boss seeks $100m for investment firm
Factory Capital has pressed play on an equity raising as it seeks to stock up its balance sheet through family offices and high-net-worth investors.
Westpac sued by ASIC over ‘systemic’ failures at RAMS
The corporate regulator said the lender suffered a major governance failure by not adequately supervising franchisees, who forged documents to write loans.
Inside Bain’s Virgin pitch, and the one number investors will fear
A tightly held pathfinder prospectus reveals all the key financial metrics that the airline’s potential new shareholders can look forward to.