Today
CVC DIF reconfirms offer for PEP’s Zenith; final shortlist this week
Sources said sell-side advisers RBC and Azure had told suitors they would need to raise their bids ahead of Friday’s deadline for reconfirmations of NBIOs.
This Month
You don’t need a family office to buy shares in unicorns
For as little as $8000, investors can buy stock in unlisted tech superstars like Airwallex on a market that, at first glance, looks and feels a lot like a public market. Is Canva next?
Here’s Blackstone’s next big target in Australia
Just months after spending $24 billion to buy AirTrunk, Blackstone president Jon Gray has another big Australian market on his agenda.
New York’s Stonepeak test drives $4b-plus bus operator Kinetic’s ANZ biz
Kinetic’s ANZ arm runs the biggest fleet of buses in both countries and generated $1.2 billion revenue last year.
Office supplies giant Winc flaunts billion-dollar revenue; sale flyer out
Winc is being shopped with a 6 per cent EBIT margin for 2025, with the sale documents pitching it as more profitable than ASX-listed distributors like EBOS and Dicker Data.
PE money man Michael Lukin’s chase for the holy grail within reach
For 20 years, private equity funds have planned assaults on Australia’s non-institutional investor set. It’s finally happening, and is possible because of one thing.
Roc Partners debuts multi-strategy PE fund with $160m seed portfolio
Continuation funds, that are set up private equity firms to prolong their stay at promising portfolio companies, are among Roc’s top avenue for generating deals for the new fund.
Former PwC colleagues’ tech firm lands $445m PE deal
PSG Equity has bought out most of Protecht, a 25-year-old Sydney software company.
Is KKR’s bad bet on cycling the start of Europe’s private equity reckoning?
As one of the first pandemic era purchases to go into a full restructuring, Accell may be the canary in the European coal mine for a crop of PE deals struck at high valuations.
Canadian suitor clucks at Aware’s $1b-plus chicken producer, ProTen
ProTen is being courted by Canada’s Northleaf, US private equity giant KKR and Sydney’s Roc Partners.
ASIC demands answers from private credit as it beefs up surveillance
ASIC has given a select group of private credit funds until mid next month to explain how they value assets, manage conflicts and look after its investors’ interests.
PEP weighs options for $100m-a-year tertiary education business UP
Home-grown buyout firm Pacific Equity Partners’ dealmakers are preparing to grade request-for-proposal submissions from investment bankers for UP Education.
McNamara set to depart Potentia Capital after $1.35b Micromine exit
The fall-out between Andy Gray and Tim Reed of Potentia Capital fame has claimed another high-value victim at the technology-focused buyout firm.
It’s the private credit liquidity trap that poses real investor risk
It’s an interesting time for Brookfield-owned lender and real estate private credit firm La Trobe Financial to kick off a sale process for the business.
The $12.1b portfolio that shows private markets gnawing away at the ASX
Here we have the boss of a big ASX investor (nearly $8 billion in top-200 companies) telling us it is easier to run a business away from the ASX boards. Alarm bells, anyone?
Bain Capital books in Virgin meetings as it reboots a run at the ASX
The private equity giant has given its broker syndicate – Goldman Sachs, UBS and Barrenjoey – the go-ahead to tee up talks with prospective investors.
Brookfield-backed La Trobe selects advisers for strategic review
Morgan Stanley and UBS were appointed in recent days to canvass options for the firm, which has $20 billion in assets under management.
Ords bankrolls management buyout at food products biz Earlee
It marks the first majority stake investment in Ords’ private capital business, which was set up in 2020 to capitalise on demand for private equity and venture capital investments.
BGH Capital in turnaround mode at Virtus Health; opportunistic funds lurk
Sources said BGH Capital has tipped $100 million in fresh equity into Virtus over the past year to reduce leverage and fund expansion.
Game on! Healthscope’s Japanese lender sells debt; eyes on HMC Capital
Sources say SMBC’s slice of the loans has been bought by Deutsche Bank, which has traditionally worked for David Di Pilla’s HMC Capital.