Today
FNZ wealth management hit with $7b lawsuit from staff shareholders
The legal action against the company, which counts ANZ and CareSuper among its customers, is one of the biggest in value ever straddling Australia and NZ.
Andrew Burnes flying high in Webjet battle
A happy side effect of the former Liberal Party treasurer’s corporate scrap with Ben Gray and Gary Weiss appears to be improved earnings for Helloworld.
Yesterday
First round offers loom for UGL’s $100m EBIT transport biz
According to the flyer distributed by Macquarie, UGL offers its buyer a chance to work across the entire value chain.
GenesisCare US cancer clinic sale to TPG ends painful chapter
Owner Oaktree Capital is selling the Australian company’s Florida and North Carolina clinics for a fraction of their former value.
Private equity giant KKR takes $500m punt on solar and storage start-up
The investment will give the Sydney-based outfit $1 billion of funding capacity to chase untapped markets for rooftop solar and batteries.
This Month
Soul Patts invests in big battery developer North Harbour
The diversified investor will end up with about a one-third share of a long-duration energy storage play led by former KKR Australia MD Tony Schultz.
Race for Perpetual wealth narrows as Bain Capital walks
Bain Capital’s exit leaves Perpetual negotiating with Oaktree-backed financial planner roll-up AZ Next Generation Advisory.
The top super funds made double-digit returns. Is yours among them?
Strong performance across assets boosted retirement savings in the last financial year. Providers say active management may play a bigger role in the next 12 months.
Sale flyer for $2.5b Sydney Desal hits inboxes
Dealmakers, get a pot of coffee brewing. Barrenjoey has dropped news details for the sale of Sydney Desalination Plant.
CC Capital swimming in debt for MLC buyout
CC’s debt package, negotiated through slightly wobbly-if-not-improving markets, is now the bedrock its $3.3 billion entry into Australia’s wealth market.
Binding bids incoming for IT services outfit Nexon Asia Pacific
Sydney buyout firm Pacific Equity Partners is duking it out with local rival Adamantem Capital for the EQT-owned business.
Revolution launches roadshow for $300m private credit LIC
The firm kicked off a two-week early look roadshow for private credit trust on Monday.
Healthscope lays the groundwork for not-for-profit status
The hospital operator is exploring applying to the Australian Charities and Not-for-profits Commission to become a registered organisation.
Meet the Wall Street deal legends behind the sale of MLC
The private equity firm that’s nabbed MLC owner Insignia Financial has two titans driving its latest deal. They’ll need plenty of patience.
Future Group to launch secondary sale at $280m valuation
Street Talk understands Future Group will go to its investors later today to announce a secondary sale.
NOJA Power process down to the short strokes: Blackstone bankers up
Blackstone and EQT are through to the second stage, with the former understood to have hired Michael Stock’s Jefferies Australia.
Brookfield snaps up 19.9pc interest in Cromwell Property Group
Brookfield acquired the 19.9 per cent stake at 38¢, a 4.1 per cent premium to Friday’s close, via Goldman Sachs’ equity desk.
PE-backed student living developer Cedar Pacific hits fundraising trail
The Brisbane-based fund manager has hit the pavement to raise a $100 million-plus fund from wealthy families and investors.
No brake for Nash Capital as it signs second deal from growth fund
Nash has turned up as the first outside investor in Clear21, and its investment will help it expand into the United Kingdom.
Goldman Sachs stays close to PE-backed cybersecurity giant CyberCX
Australia’s largest cybersecurity provider is laying the groundwork for a sale process.