By Stuart Condie

SYDNEY--Shares in Insignia Financial rose in early trade after former suitor Bain Capital said it could revive its interest in the Australian wealth manager.

The stock jumped as much as 5.1% shortly after Friday's market open. It was recently up 4.3% at 3.67 Australian dollars, equivalent to about US$2.40.

In an interview with Dow Jones Newswires on Thursday, Mike Murphy, who heads Bain Capital's Australia operations, said that the firm "maybe" could revisit a move for Insignia.

"We think wealth management in general is a really interesting, fertile space to go look in," Murphy said. "Insignia obviously was interesting in many ways."

In May, Bain Capital pulled a US$2.18 billion proposal for Insignia as uncertainty generated by the Trump administration's tariff announcements roiled global debt and equity markets.

That left CC Capital Partners as Insignia's only suitor.

Australia-listed Insignia hasn't commented on negotiations since May 14, when it said Bain had walked away but that talks with CC Capital were continuing toward a binding offer.

Insignia is scheduled to announce its June-quarter result on July 24, with its annual result slated for Aug. 21.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

June 26, 2025 20:35 ET (00:35 GMT)

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