Good evening,

It’s getting nuts out there.

In a sign of just how much M&A and capital markets activity is taking place, we can confidently say we have our strongest column of the past decade in tomorrow’s paper.

First, it was KKR and Ontario Teachers’ Pension Plan that have lobbed a $5 billion-plus bid for Spark Infrastructure, which we revealed on Wednesday night.

Second, Sydney Airport’s board elected to reject IFM Investors’ bid at a board meeting on Wednesday, ending (for now at least) Australia’s biggest M&A deal.

We also have news of a fresh raising at Canva and, naturally, a new eye-watering valuation.

Then we reveal the new hedge fund quietly setting up shop in Sydney, with an expected $2 billion in initial investor commitments, which is massive news for the hedge fund sector globally.

And finally, there is a new deal out of Pacific Equity Partners. It is seeking an investor for its fast-growing smart meters business, Intellihub.

Like we said, it’s nuts out there. And the best bit – it seems like there’s plenty more to come.

Happy reading,

Anthony Macdonald and Yolanda Redrup
Street Talk Editors