Street Talk

Lightning strikes twice for star financial adviser; $30m sale afoot

The co-owner of Baz Luhrmann and Catherine Martin’s historic Sydney mansion Iona, Tim Eustace, is close to selling his business for $30 million.

Sarah Thompson, Kanika Sood and Emma Rapaport

Jan 16, 2025 – 5.53pm

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Financial advice businesses are red-hot among private equity firms. And financial adviser – and co-owner of Baz Luhrmann and Catherine Martin’s historic Sydney mansion Iona – Tim Eustace is making the most of it to court bidders a second time around.

Street Talk understands Eustace, who ranked No.17 on Barron’s list of Australia’s top financial advisers, has been soliciting bids for his high-net-worth advice business, Mercury Private.

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.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.