The Monthly Recap - June
Private credit remains strong, but data centres are gaining significant traction driven by the AI boom. The IPO market is buzzing, with listing activity picking up, led by Virgin Australia’s much-anticipated ASX return, setting the tone for a (potentially) dynamic second half.
As we hit the halfway point of 2025 and move into the new financial year, Trump-tariff shocks finally start to fade, while AI has firmly taken the centre stage, poised to reshape markets and job landscapes. Private credit remains strong, but data centres are gaining significant traction driven by the AI boom. The IPO market is buzzing, with listing activity picking up, led by Virgin Australia’s much-anticipated ASX return, setting the tone for a (potentially) dynamic second half. This report outlines select M&A deals, general market activity and significant news amongst private equity, investment banking & debt markets. We also include a short section on recent notable market movers.
• GIC and Future Fund to split ADIA’s Transgrid stake in a $2b deal (The Australian).
• ART looks to boost ElectraNet holding to nearly 28% in upcoming sale (AFR).
• KKR wins bidding war to acquire majority stake in Zenith Energy valued over $2b (The Australian).
• Quadrant’s Amart acquires Freedom Furniture to form a $1b retail giant (AFR).
• L1 Capital buys into Platinum’s listed fund as merger talks advance (AFR).
• Kegstar set to acquire rival Konvoy Kegs following receivership (AFR).
• Super Funds pivot from buy-and-hold to strategic divestments and reinvestments (AFR).
• Tanarra exits Health Metrics in sale to Accel-KKR (AFR).
• Sybos offloads majority stake in Ebos for $880m, signals complete exit ahead (The Australian).
• CBRE taps high net worth market with Burgess Rawson acquisition (AFR).
• Virgin Australia flies high in ASX comeback, with a $2.3b market cap (AFR).
• Permira’s I-MED secures $1.8b refinancing (AFR), plans IPO exit (The Australian).
• Macquarie Infrastructure Fund VI raises $10.45b to target transport, energy and digital assets (The Australian).
• Edify Energy sets up $2.6b debt package to back sale process (AFR).
• Xero taps UBS and JPMorgan, fires off $2b capital raise to fund M&A (AFR).
• CDC hires Barrenjoey to arrange $1.4b debt facility to fuel infrastructure push (AFR).
• Goldman Sachs dominates 2025 Australian M&A, advising on $97b worth of deals (The Australian), and JPMorgan leads Australian equity capital markets in 2025 with $2.8b in deals (The Australian).
• KPMG Australia appoints 67 new partners, majority from internal promotions amid 13% turnover (AFR).
• Wesfarmers names Kmart chief John Gualtieri new Officeworks managing director (AFR).
• Australian Ethical appoints Nathan Parkin as head of equities amid $13b asset push (AFR).
• Jefferies’ Gordon Kerley jumps to Goldman Sachs in M&A advisory role (AFR).
• Jarden strengthens equities division, hires veteran trader Chris Gardener and Barrenjoey’s Sam Shires (AFR).
• Key departures at Macquarie as directors Tom Gibson and Alex Brown resign (The Australian).
• Goldman Sachs hires RBC’s James Cornell and UniSuper’s David Welsh in key equity roles (The Australian).
• Sandy Isherwood exits Moelis to rejoin CLSA Australia as new head of sales (AFR).
• PM Martin Byers joins Moelis Australia as executive director after small cap fund manager Celeste closes doors (AFR).
• Top BlackRock dealmaker Charlie Reid departs (AFR), joins alternative investment manager PAG (AFR).
• Macquarie Capital loses ECM executive Andrew Batmanian amid slow year (AFR).
• Wesfarmers Health’s commercial finance lead George Wroe lands investment director role at Anchorage Capital (AFR).
• Luminis’ Cameron Wilson, 33, earns the youngest partner title after two years with the firm (AFR).
• Sandon Capital brings on Scarlett Dorney as new head of client solutions (AFR).
