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.
Blackstone to Sell $3 Billion Australian Logistics to ESR
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Big banks help Singaporeans hit Australian real estate Milestone
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Four heavyweight lenders have bankrolled ESR Group and GICâs knockout $3.8 billion bid for Blackstoneâs Australian logistics portfolio, in a deal that marks another changing of the guard in Australiaâs real estate sector.
The transaction will re-weight valuations in Australiaâs industrial property sector and is the biggest piece of evidence yet of money slinging away from Australian shopping centres and office buildings to industrial sites.
Australiaâs ANZ Banking Group, Japanâs MUFG, Singaporeâs United Overseas Bank and Asian heavyweight Standard Chartered are expected to stump up north of $2 billion to help ESR take control of the logistics sites, in a deal targeted to complete prior to June 30.
Blackstone wears the Crown in casino mess
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Thereâd be nothing like a $14 a share private equity bid to end a lot of problems at Crown Resorts.
The $2.2 billion Crown Sydney tower.Â
Louie Douvis
Helen Coonan wouldnât need to find a CEO and a cohort of steely-eyed directors.
Minority investors wouldnât have to worry about spending the next few years in an abyss, while the company works through regulatory issues and rebuilds.
And major shareholder James Packer could deal his stake sideways into a private bid vehicle, sell down or do whatever else he feels like.
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