Blackstone-backed LaTrobe Financial eyes $2b IPO
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Booming non-bank lender and credit manager LaTrobe Financial will consider a trade sale or IPO that could value that business at more than $2 billion, as investor interest in the non-bank sector surges.
US investment giant Blackstone owns 80 per cent of LaTrobe, with the balance held by chief executive Greg O’Neill, whose family started the business in regional Victoria in 1952.
An initial public offering is a live option in the strategic review of the business, which will be run by Goldman Sachs. But LaTrobe’s large credit asset management business means it does not need capital to expand and sources said Mr O’Neill and Blackstone are open to a deal that would bring in a minority investor and partner who could help expand the business.