Here’s a late but completely predictable entrant into the auction to buy Perpetual’s $500 million-odd wealth management business.
Street Talk understands Mike Murphy’s Bain Capital has lobbed a first-round bid for the unit, less than a month after it pulled out of the race to acquire superannuation and wealth management giant Insignia Financial, leaving CC Capital as the sole bidder.
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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
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
