Not to keep harping on about billionaire Gretel Packer (we wrote about her impending exit from the Sydney Theatre Company board mere days ago), but her interest in property is seemingly insatiable at the moment.
Millions of dollars have already been showered across interests in Sydney’s real estate market, in commercial buildings and apartments. Plus she owns the family’s Ellerston estate in the NSW Hunter Valley.
But now we hear she’s emerging as a significant shareholder in Aliro Group, a property funds management business led by Charter Hall co-founder David Southon and Orica’s former global head of property Daniel Wise, who runs the place as CEO. For those with short memories, these are the guys who made a $400m bid on ASX-listed Australian Unity Office Fund in 2022. The deal attracted board support but ultimately collapsed after a two-month period of due diligence.
We’re hearing Packer has provided equity for about 5 per cent of Aliro and that’s pretty much secured her a seat at the board for Glen Selikowitz, the MD of her family office, Ritam. In a similar vein, Selikowitz is also on the board of a Sam McKay outfit after Packer placed money with his private equity shop Point King Capital, she and he being familiar through her brother, James.
Packer’s holding in Aliro is staked through Longbridge Nominees Pty Ltd, of which she is sole shareholder. Nothing back from Southon, either, when we asked for comment on his latest investor. They’ve currently got $3bn in FUM and are forecasting gross asset values on completion to be $7.5bn.
Meanwhile, brother James is still battling on with his $100m Edenville Corio project, a property play anticipated for suburban Geelong. That one’s questing through reams of red tape in the Victorian Civil and Administrative Tribunal owing to repeated rejections by local planning authorities.
Heading for exits
No shortage of players at the higher levels of the Albanese government starting to make their way for the exits, the most senior being Moksha Watts, who’s finishing up in the Prime Minister’s Office over the coming weeks.
Very much a wonk on matters climate, energy and resources, Watts is calling it quits just as legislation enters parliament for the newly established Net Zero Economy Authority, which is pretty much what she’s been working on since joining the PMO after a stint at Virgin Australia in mid-2022.
Haven’t heard of this agency? It’s going to be given nearly $50m every year to get the wheels moving on the country’s net zero transformation. Greg Combet is chairing the outfit and Professor Ross Garnaut sits on the advisory board with a couple of union reps and Rio Tinto’s Kellie Parker, among others. Combet, meanwhile, is up at the press club on Tuesday to explain the authority to people and talk through the third-rail subject.
Margin Call had heard rumblings of Watts’ imminent appointment as an adjunct fellow at UNSW advising on energy policy and diplomacy. She declined to comment on that, and on a rumour that she was joining APCO Worldwide’s International Advisory Council.
Gone, too, is Ed Husic’s chief of staff Brett Gale, and leaving as well is Catherine King’s point man Joseph Solomon. We hear Gale’s replacement is fellow staffer David Masters, while Solomon will be switched out with Maggie Lloyd, a former deputy chief of staff to Michelle Rowland.
A bit lower on the political totem pole is former journalist Jason Koutsoukis, who’s said to be leaving his role as a media adviser in Clare O’Neil’s office to go to work for The Saturday Paper, which, depending on how you look at it, says a hell of a lot about working in government.
But perhaps it’s premature to speak of high turnover, especially when we’re reminded of ex-prime minister Kevin Rudd and his observation that a political staffer’s working year is “like a dog year”, in terms of burnout and emotional toll. “It’s probably worth seven years in normal life,” he said. To be sure, the Ruddbot was a known tyrant back in his day.
Flying High 2
More largesse, is it, from the Royal Australian Air Force? News broke on Monday that Labor ministers in Canberra required the use of two private jets instead of one for an engagement at Liddell Power Station in the NSW Hunter region.
Energy Minister Chris Bowen defended the decision to fly twin planes, basically blaming the air force and saying it was their idea. Apparently getting everyone to pile into just one jet wasn’t possible due to weight restrictions.
We mention it because Margin Call recently reported on an RAAF joyride for UK Defence Secretary Grant Shapps. Shapps had been in Canberra for AUKMIN meetings and caught a one-way flight to Adelaide in the tandem seat of an F/A-18F Super Hornet, which the Brits don’t have, the whole stunt intended to show off Australia’s military hardware.
But at what cost? We hear the jolly came at a price so extraordinarily high that to learn of the exact figure would shock and appal even the most generous taxpayer. Asked for a cost estimate, the Department of Defence confirmed that the request had been received. That was a week ago, and something tells us they definitely don’t want the figure to be known.
Thousands of dollars in grants for supporters of ex-Hamas chief Sinwar
Kicking over more rocks at Creative Australia reveals generous taxpayer-funded grants handed out to artists who’ve broadcast their hero-worship for jihadi leaders, under the leadership of CEO Adrian Collette.
Inquiry needed to free Creative Australia from its ideological capture
For the first time ever we find ourselves in furious agreement with Sarah Hanson-Young, who wants a ‘full and frank’ inquiry into Creative Australia’s decision-making around the Venice Biennale 2026.