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    Today

    New Quantum acquired Morrison Securities off ASX-listed Sequoia.

    New Quantum weighs its options as Keystone pulls funding

    Should it land in receivership as expected, the company’s majority owner – Beaconsfield Capital – is understood to be preparing to buy back the business.

    • 50 mins ago
    • Sarah Thompson, Kanika Sood and Emma Rapaport
    The often nautical Will Vicars, co-chief investment officer of Caledonia Investments.

    Will Vicars and Caledonia are still deep in the red

    Financial year results from the fund manager show a 6.3 per cent gain in the month to June 30. Elsewhere, it’s a sea of woe.

    • 1 hr ago
    • Myriam Robin
    Equity release products constitute a small proportion of the Australian market, but the practice is common in England and Canada where the sector is supported by pension funds and life insurers.

    NAB backs Federation Asset Management’s Homesafe acquisition

    The agreement is a drop in the ocean for a big four bank with a $702 billion loan and advancement book.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Livingbridge country head Gareth Young.

    Done deal: London buyout firm Livingbridge acquires Colinton’s Dimeo

    Under the deal, Colinton will retain a stake, while Livingbridge will join the register alongside founders Charles Bates and Peter Easter. 

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Vice chairman, investor solutions, Churchill Asset Management, from Nuveen.:Randy Schwimmer: just as not all private credit is equal, not all managers can deliver on investor needs.

    Not all private credit is created equal

    Are private credit valuations supportable, or will they crash and contaminate the financial system?

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    The London Stock Exchange. Equiniti provides investor registry services, but has not been a good investment for PEP.

    The end is finally in sight for PEP’s worst-ever investment

    The local private equity giant has been a money-spinner for investors, except in this instance. In an update, it says it may finally exit Equiniti next year.

    • Sarah Thompson, Kanika Sood and Emma Rapaport

    Yesterday

    Cbus chairman Wayne Swan: still leading a “movement”.

    The ties that bind John Setka to Cbus and the ALP

    With the CFMEU now in a spotlight so bright even the indestructible John Setka couldn’t ride it out, ties like these drag everyone else into the glare.

    • Myriam Robin
    National home care provider Five Good Friends co-founders Nathan Betteridge and Simon Lockyer.

    EQT-backed Five Good Friends hits auction block; stake up for grabs

    A handful of Five Good Friends’ minority shareholders, including QIC and stockbroker Morgans, have hired Record Point to shop a 45 per cent stake.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    ANZ’s head of institutional banking, Mark Whelan, with the bank’s chief executive, Shayne Elliott, last year.

    ANZ board ‘acutely focused’ on trading scandal

    In a note to staff, the bank’s executives said directors and senior management met on Tuesday to review probes into workplace conduct and market manipulation.

    • Updated
    • Jonathan Shapiro and Lucas Baird
    Alex Syhanath runs Citi’s Australian commercial bank, a 34-person team that targets companies with more than $15 million in revenue.

    Bankers seeking their next big pay day are chasing these clients

    Investment banks are now after riskier, smaller companies so they can pounce on the spoils of a trophy listing or a huge sale to private equity.

    • Aaron Weinman
    Adam Dicembre has joined the top echelons of one of Australia’s best known private equity firms.

    Next Capital anoints new partner; sells fancy breadmaker Noisette

    Dicembre was integral to the firm’s investment in NZ Bus, and its subsequent exit to Australia’s largest bus network, Kinetic, in 2022.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
    Zip Co group chief executive Cynthia Scott.

    Resurgent Zip raises cash and pays big break fee to eliminate its debt

    Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.

    • James Eyers

    Brokers sense interest as Australia’s favourite meme stock returns

    The list of names dumped from the ASX 200 alongside Zip shows how rare a comeback is. But while its business is firing, not everything has changed.

    • Anthony Macdonald
    When it comes to high-net-worth investors’ appetite for different asset classes, cash, treasuries, bonds, hybrids, private credit and higher-yielding alternative assets are attractive in a world where fixed-income yields are rising.

    High-net-worth investors seek enhanced returns in a risky world

    Staying ahead of inflation and identifying sustainable income streams are themes occupying high-net-worth investors’ minds.

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    Bain’s Accolade to buy Jacob’s Creek and other Pernod Ricard brands

    The deal between the French alcohol giant and one of Australia’s largest wine producers will require approval from the competition regulator.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
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    The Blue Grass solar project has been funded by equity from KKR and Brookfield which allowed construction to start in October 2020.

    Azure, Natixis shop Brookfield-owned X-Elio’s Blue Grass solar project

    Street Talk understands the Spanish renewable developer, a 100 per cent Brookfield-owned company, is seeking to part with its interest in the 200 megawatt-peak solar farm and battery project.

    • Sarah Thompson, Kanika Sood and Emma Rapaport

    This Month

    ANZ’s headquarters in Melbourne’s Docklands. The company’s senior managers are trying to contain a growing scandal at its markets division.

    ANZ suspends traders for alleged misconduct amid markets probe

    The bank’s executives are battling to contain a growing scandal about its trading team, with the regulator investigating whether bond trades were manipulated.

    • Jonathan Shapiro
    Barrenjoy co-executive chairman Matthew Grounds.

    Barrenjoey’s burrito bank is more like a trough

    The investment bank’s research analysts are bullish on Guzman y Gomez. They also have an interest in its success.

    • Mark Di Stefano
    The CBA share price has soared some 30 per cent in the last 12 months, widening the gap between the country’s largest bank and its rivals.

    The only analyst still backing CBA says the huge price is worth it

    Shares in the country’s largest bank have rallied 30 per cent in 12 months, with fund managers and every broker – except CLSA – saying it is too expensive.

    • Lucas Baird
    Eddie Rigg is the chairman of stockbroker Argonaut in Perth.

    Argonaut Securities targets ECM growth with new hire

    Street Talk understands the boutique stockbroker has tapped Foster Stockbroking head of corporate finance Rob Telford to grow its Perth presence.

    • Sarah Thompson, Kanika Sood and Emma Rapaport

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