Street Talk

Steadfast poised to launch $280m equity raising; two brokers on ticket

Sarah Thompson, Kanika Sood and Emma Rapaport

Nov 16, 2023 – 7.52am

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The king of insurance broker acquisitions, Robert Kelly, is at it again.

Street Talk understands Steadfast is set to launch a $280 million equity raising as early as Thursday, comprised of a placement and share purchase plan. Proceeds will be used to fund an acquisition in Australia, sources said.

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.