The Monthly Recap - February

The Monthly Recap – February

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February was short on days and even shorter on momentum. Deal flow stayed relatively light, yet Eucalyptus delivered a standout moment for its VC backers and the sector. As Australia’s economy picks up and the Aussie dollar climbs, geopolitical tensions and concerns around AI continue to linger. This report outlines selected M&A deals, general market activity and significant news among the investment bank & private equity firms, plus any significant news across debt markets.

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M&A

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· MAM’s $11.6b bid to take Qube private set to close (AFR).

· Blackbird Ventures set for massive payout in $1.6b sale of Australian  unicorn Eucalyptus to Hims & Hers (AFR).

· Shell kicks off sale of 16.7% stake in $34b North West Shelf project operated by Woodside(AFR).

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Other Activity  

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· HMC Capital secures $600m investment from KKR for Energy Transition Fund (AFR) (The Australian).

· Pepper Money intalks to be taken private again, led by KKR owned Global Atlantic (AFR).

· LG Energy seeks to cash out stake in Liontown via $419m block trade (AFR).

· La Trobe Financial set for a $1b+ ASX listing, amid strong investor interest (AFR).

· MA Financial partners with CMBI to launch $850m leveraged buyout credit fund (AFR).

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Investment Banking News & Debt Markets

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· UBS reports $1.7b profit (The Australian), Barrenjoey’s gains double (AFR) as investment banking resurges.

· ColCap Financial raises $2.7b in record RMBS deal (AFR).

· Macquarie looks to restructure Bingo Industries with potential debt write-down (AFR).

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Market Moves

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· Jamie Gordon exits as James Unger takes charge of institutional equities at Bell Potter Securities (AFR).    

· Nigel Adams joins Shaw and Partners as senior adviser after two decades at Wilson Advisory (AFR).

· Jo Dawson departs Westpac for Macquarie Group in surprise treasury move (AFR).

· E&P strengthens small-cap research with hire from Shaw and Partners (AFR).

· Andrew Bird exits JBWere to rejoin UBS Wealth Management (AFR).

· Daniel Porter joins Tribeca Investment Partners as managing director to boost corporate advisory in resources (AFR).

· Tim Church takes sole control of investment banking at Morgan Stanley (AFR).

· Citi poaches Investment banker Kriss Pachauri from Houlihan Lokey (AFR).

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