Good evening,

It’s the EOFY deals rush, and Street Talk’s spotted a juicy one cooking at Quadrant’s Pacific Hunter hospitality empire.

It is understood Pacific Concepts’ lender, Korea’s Shinhan Bank, has been quietly showing its slice of the debt stack to distressed funds and special situations types. That’s roughly half of the $228 million debt in the unit. (Pacific Concepts is the casual dining slice including Fratelli Fresh, while the related Hunter Street Hospitality includes higher-end locations such as Rockpool. Quadrant owns both.)

Shinhan’s escape attempt comes after four years in Pacific Concepts’ capital structure. When it walked in, Pacific Concepts wanted to open 400 The Bavarian-branded restaurants in the US. It’s only gotten to 19 of them.

It will be interesting to see if the lender unrest parlays into a broader refinancing before June 30.

Elsewhere, we’ve got the lowdown on what’s cooking at Morgan Stanley Wealth Management; BWX’s Aussie business had a new tyrekicker ahead of first round bids; Pinnacle Investment Management installed a new retail boss amid a looming succession; and pre-IPO fundie Fifth Estate Management was in the final leg of raising its second fund.

Happy reading,

Sarah Thompson, Kanika Sood and Emma Rapaport
Street Talk editors