Today
Blackstone eyes investment in rival to Transgrid’s unregulated biz
Multiple sources said Blackstone has pulled ahead of rival bidders, including HMC Capital’s Julia Gillard-chaired Energy Transition Fund, to tip into Symphony.
Bigtincan in the doghouse with shareholders over PE playbook
While business performance has fluctuated, shareholders place blame for the share price’s collapse squarely at the feet of the board,
Critical minerals hotshot WA1 Resources launches $50m placement
The institutional placement was priced at $17 a share, representing a 9.8 per cent discount to WA1’s last traded price.
Parcelpoint spin-off Fluent Commerce hunts for US buyer; hires Citi
Street Talk understands Fluent has been working with Citi’s North American bankers to seek a buyer for the business.
New suitor emerges for Booktopia, as bid deadline looms
digiDirect has hired PwC to advise it on a potential purchase, and brought in several former senior Booktopia staff for advice.
Yesterday
Mid-market PE firm Riverside taps ex-Deliveroo CEO as ops partner
According to Riverside, Ed McManus more than doubled revenue during his four-year stint leading the food delivery service.
Nvidia rival Groq’s $445m raise finds a local backer
Street Talk understands BFA Global Investors has nabbed a $14.8 million slice of Groq AI’s Series D US equity raise.
Bain refused to sign Bapcor’s NDA/standstill in return for engagement
If there are other buyers waiting in the wings, no-one’s putting their hand up or even threatening to.
Insignia calls in Citi as PE circles; Geoff Lloyd around the hoop
Sources said Geoff Lloyd has been shopping his turnaround credentials and industry nous to potential bidders.
Alceon names Goldman Sachs private capital operative as its new CEO
David Gribble will succeed former investment banker and Babcock & Brown executive Trevor Loewensohn, who founded Alceon alongside Phil Green and Morris Symonds.
This Month
Quinbrook lights up auction for energy portfolio
Although arguably lacking the star power of Sun Cable, Quinbrook’s up-for-grabs Australian energy business should get plenty of attention from dealmakers.
RBC hitches a ride on NSW’s toll roads shake-up
In accepting the gig, RBC is also indirectly squaring off against ASX-listed toll roads giant Transurban, which owns stakes in 11 of Sydney’s 13 toll roads.
Project Open: Barrenjoey seeks $182m for Orora activist push
Street Talk understands the home-grown investment bank tried to pull together a syndicate of investors in April to nab a 10 per cent stake and agitate for change.
Alvarez & Marsal poaches PwC, EY partners
Transaction services is the highest-demand business unit for Alvarez & Marsal locally, ahead of management consulting and tax advisory.
Hedge fund takes Barrenjoey to task over Chemist Warehouse deal
Faced with competition regulator concerns, Wickhams Hill reckons Chemist Warehouse is far more likely to pursue a traditional IPO than sell stores.
Grow Inc kicks off $60m Series D raise; Hitachi Ventures to anchor
The super admin provider, which caused a stir last year after it nabbed HESTA from rival Link, has tapped Highbury Partners to kick off a $60 million raise.
Anglo American prepares to launch $7b-plus sale of Queensland coal mines
Sources said confidentiality agreements are due to be mailed out in the coming fortnight, after which the London-listed miner would set a deadline for non-binding indicative bids.
River Capital nabs Archer Capital’s education roll-up Aspire2
Andrew Larke, Orica’s former star dealmaker, will co-invest alongside the Melbourne-based investment firm and come on as Aspire2’s chairman.
Forced smiles: Crescent Capital, Genesis get their fangs out
Pacific Smiles has been in a holding pattern since the dispute broke out.
Growth PE firm Whiteoak adds NDIS software provider
Whiteoak, a private equity firm founded by ex McKinsey & Co consultant Richard Whiteoak, has picked up a majority stake in Datanova.
