Street Talk

Phil King’s Regal homes in on biggest M&A target to date: Platinum

Sarah Thompson, Kanika Sood and Emma Rapaport

Sep 16, 2024 – 4.33pm

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Phil King’s Regal Partners, one of the market’s most influential funds management houses, is weighing up a bid for Platinum Asset Management, the legendary contrarian investor founded three decades ago by billionaire stockpicker Kerr Neilson.

Regal, which has made a string of acquisitions in the past year and now manages $16.5 billion, is working with Barrenjoey Capital Partners as it sizes up Platinum, one of the country’s oldest global equities players. Platinum has had a difficult decade, with investors pulling funds and returns falling. Yet, it still manages $12.2 billion.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com