Monday
January 24, 2022
Good evening,
There’s a new $3 billion buyout fund on the block.
And it comes not from US giants such as KKR, Blackstone or Carlyle, but Melbourne’s BGH Capital.
Street Talk understands BGH has been quietly raising a second fund, which would be the largest ever from an Australian private equity firm.
It should give BGH enough dealmaking firepower for this year, adding to its previous acquisitions of education business Navitas, dental business Abano and entertainment business Village Roadshow – to name a few.
Speaking of Blackstone, we’ve spotted the US giant lining up finance for its $10 billion bid for Crown Resorts.
Sources say the DCM deal is likely to feature the who’s who of Wall Street banks, and the funding could be structured as a US Term B loan package.
Elsewhere, EV charging play Bell Resources is raising $190 million; Kiwi construction giant Fulton Hogan has got its eye on an NSW roads contractor; and investors are closely watching ASX-listed fibre infrastructure outfit Uniti Group’s buyback disclosures.
Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika SoodStreet Talk Editors
It has cemented its mantle as Australia’s heavyweight private equity firm.
When Blackstone says ‘jump’, investment banks ask ‘how high?’.
The skittish fibre infrastructure owner has put a target on its back – and given M&A bankers and lawyers plenty to talk about.
The company has told backers it is one step closer to kick-starting an ambitious roll-up, after finalising plans to raise funds.
The Kiwi construction and engineering business is closing in on a half stake in Stabilised Pavements of Australia.
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