BREAKINGVIEWS-Bain buyout fight shows allure of pensions

Reuters

Jan 09, 2025

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)

By Antony Currie

MELBOURNE, Jan 9 (Reuters Breakingviews) - The US investment firm is competing with CC Capital to take Australia's $1.7 bln Insignia Financial private. A new owner can accelerate much-needed cost cuts but the target will struggle to grow. Still, the deal is a rare chance to buy into the coveted superannuation industry.

Full view will be published shortly.

Follow @AntonyMCurrie on X

CONTEXT NEWS

Australian wealth and asset management company Insignia Financial on Jan. 6 said it had received a non-binding, indicative proposal from New York-based private investment firm CC Capital Partners that valued the company's equity at A$2.9 billion ($1.8 billion).

The A$4.30-a-share proposal is 7.5% higher than an offer from Bain Capital that Insignia revealed on Dec. 13 and rejected five days later. CC Capital's proposal is 41% above Insignia's undisturbed share price at market close on Dec. 11.

(Editing by Robyn Mak and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on antony.currie@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The opinions expressed are his own.)</p><p>   By Antony Currie</p><p>      MELBOURNE, Jan 9 (Reuters Breakingviews) - The US investment firm is competing with CC Capital to take Australia's $1.7 bln Insignia Financial private. A new owner can accelerate much-needed cost cuts but the target will struggle to grow. Still, the deal is a rare chance to buy into the coveted superannuation industry.</p><p>   Full view will be published shortly.</p><p>   Follow @AntonyMCurrie on X</p><p>   CONTEXT NEWS </p><p>   Australian wealth and asset management company Insignia Financial on Jan. 6 said it had received a non-binding, indicative proposal from New York-based private investment firm CC Capital Partners that valued the company's equity at A$2.9 billion ($1.8 billion).</p><p>   The A$4.30-a-share proposal is 7.5% higher than an offer from Bain Capital that Insignia revealed on Dec. 13 and rejected five days later. 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Still, the deal is a rare chance to buy into the coveted superannuation industry.   Full view will be published shortly.   Follow @AntonyMCurrie on X   CONTEXT NEWS    Australian wealth and asset management company Insignia Financial on Jan. 6 said it had received a non-binding, indicative proposal from New York-based private investment firm CC Capital Partners that valued the company's equity at A$2.9 billion ($1.8 billion).   The A$4.30-a-share proposal is 7.5% higher than an offer from Bain Capital that Insignia revealed on Dec. 13 and rejected five days later. CC Capital's proposal is 41% above Insignia's undisturbed share price at market close on Dec. 11. 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