It had Bank of America, Credit Suisse and Jefferies float Latitude Financial Group and has Credit Suisse, Goldman Sachs and RBC Capital Markets preparing lender Pepper ANZ for the ASX boards. And now it has called in more bankers – Citi and Goldman Sachs – to float pubs owner Australian Venue Co, as we revealed on Tuesday.
KKR’s frantic float preparations, and banks’ willingness to jump in and help with the preparations, are a sure sign the private equity giant wants to make the most of juicy equity-market multiples and investor sentiment.
While Latitude’s heavily reduced deal is done, if KKR can also get both Pepper and AVC a berth on the ASX boards it will be a huge result. History says it’ll be very hard for all three to make it.
Elsewhere, we can reveal the country’s newest private equity firm and its maiden deal. ACTA Capital is a new growth capital investment firm run by former Alceon dealmaker Richard Facioni and has agreed terms to back a rail-sector engineering group’s management buyout.
Happy reading, Sarah Thompson, Anthony Macdonald and Tim Boyd Street Talk Editors
Global solar farm owner Fotowatio Renewable Ventures has knocked back a private equity-led bid to take control of its Australian assets and is pushing ahead with a minority stake selldown.
A Brisbane-based company that links English football giants Manchester United and Liverpool, and the NBA’s Houston Rockets is getting ready for its own big game.
