Street Talk

The fight between Magellan and Nick Bolton is getting stuck in the mud

Sarah Thompson, Kanika Sood and Emma Rapaport

Sep 12, 2023 – 5.00am

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Already a subscriber?

The animosity between Magellan Financial and the investment house’s bete noir, Keybridge Capital’s Nick Bolton, shows no sign of dissipating despite the two parties breaking bread and discussing their stand-off in late August.

Bolton and his fellow investor, ex-Domain boss Antony Catalano, were at the meeting to propose a truce of sorts, sources close to the discussions told Street Talk. Bolton was hoping Magellan would buy the options he held in the Magellan Global Fund, a closed-end strategy that listed in 2017, in exchange for him signing a stand-still agreement, they 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. 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