The Monthly Recap - October

Published on

November 1, 2023

The Monthly Recap - October
The Monthly Recap - October

The Monthly Recap - October

October comes to a close with plenty going on across the markets.

October comes to a close with plenty going on across the markets. IPO news has picked up with a flurry towards the end of Q3 and start of Q4 providing some hope for ECM desks. Additionally, a few PE firms are looking to raise towards the end of the year to bulk up for early next year? 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.


PEP agrees terms to buy Serenitas: Mirvac partners with PEP, each to take 47.5% stake in the lifestyle communities business (AFR)

Mercer Investments set to take over ING’s Aussie Superannuation business: “Living

Super” is set to change hands December 1, with around $3bn under management. (AFR)

Whitehaven Coal defeat rival bidders for BHP’s QLD coal mines: the deal is reportedly

worth $6.4bn (Australian)

Crescent Capital Partners pick up non-controlling stake in Walski Clinical Research


Octopus Investments Australia acquired QLD’s largest proposed battery project:

expectations of $800m Enterprise Value once up and running (AFR)

MA Financial topped up investment in Australian marinas: $20m acquisition joins the d'Albora purchase in April (BNA)

Other Activity

Five V looking to raise $700m for fifth buyout fund: comes just two years after raising

$500m for fourth fund (AFR)

Magellan back on the hunt for new CEO: David George departs the firm after 15 months

in the role (BNA)

BGH Capital joins other big name buyers for Sara Lee: The dessert maker entered

voluntary administration earlier in the month (Australian)

PEP preparing biggest fund to date: Fund VII targeting $3 billion, which would mark the

largest raise in 2023 (AFR)

Carlyle-Backed Amp Energy searching for buyer for local renewable generation & storage assets (AFR)

Investment Banking News

Head of ECM at Goldman Sachs departs the firm: Ian Taylor is out, Aaron Lamshed set

to replace (Australian)(AFR)

Credit Suisse’s Head of Australia Securities Research pops up at Canaccord Genuity:

Paul Buys is set to start in Early November (AFR)

MA Financial adds lead to their new resources sector team: Adam Bill comes from

Treadstone Resource Partners and will report into Paul Rathborne (AFR)

Barrenjoey paying bankers’ bonuses in monthly instalments: comes as the bank looks

to control costs following large set-up spending (AFR)

Jarden tech lead moves to buy-side: Elise Kennedy is expected to pop up at Schroders in

the new year (AFR)

Brian Johnson resurfaces at MST Financial six months after leaving Jefferies (AFR)

they have also hired Saul Kavonic from Credit Suisse’s defunct research team (AFR)

ECM activity has picked up with Barrenjoey, UBS & Macquarie topping the league

tables: Q3 saw a flurry of activity (AFR)

Debt Markets

EQT Partners chasing $500m debt to bankroll VetPartners acquisition: follows their

winning bid of $1.4bn (AFR)

Brookfield finalises $1.45bn refi for Aveo: The syndicate has 16 lenders and 5

underwriters (AFR)

Navis Capital has hauled in $400m from debt capital markets to refinance

existing facilities: The deal was underwritten by Commonwealth Bank & Westpac


Liontown Resources secures $760m in debt with Export Finance Australia on the

ticket: Comes alongside a $400m equity raise (AFR)

Jefferies & Bank of America understood to be lenders behind Whitehaven Coal’s

BHP mines bid: $1.4bn bridge debt facility in place, with longer-term funding

eventually (AFR)

Vocus Group kicks off talks to put together debt syndicate for $6.3bn bid for TPG

Telecom’s fibre assets (AFR)