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Greensill Capital takes flagship fund fail in stride

Michael Bailey
Michael BaileyRich List co-editor

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Greensill Capital, the supply chain financier founded by Financial Review Rich Lister Lex Greensill, nearly trebled net profits in calendar 2018 and is set to emulate that growth in 2019 despite a flagship fund for which it originated assets losing nearly all of its investors.

Greensill's $US49.4 million ($73 million) after-tax profit reported in financials lodged with the corporate regulator late Friday followed a $US20.8 million net profit in 2017, and came off revenue of $US273 million, which nearly doubled from 2017's $US138 million.

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Michael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney. Connect with Michael on Twitter. Email Michael at m.bailey@nine.com.au

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    Original URL: https://www.afr.com/rich-list/greensill-capital-takes-flagship-fund-fail-in-stride-20191014-p530i8