AU
Sector: Private equity / Venture capital
It’s only on a small scale, but PE firms are hiring in Australia
The appetite for new deals is returning to the Australian private equity scene, and this is already translating into more jobs. The headline act is clearly the mega sale of Healthscope for $2.7bn to a US firm, yet mid-market Australian-based PE firms are leading the recruitment drive, according to a Sydney-based recruiter. Victoria Biggs, co-founding [...]
Daily Dispatches: PE firms eye up more Aussie deals
After months of radio silence from private equity funds as they await a final decision from the Australian Tax Office about how their investments will be taxed here, firms have been expressing interest in deals recently. (The Australian) President Barack Obama on Thursday urged a Wall Street audience that included Lloyd Blankfein of Goldman Sachs [...]
PE feels the pain as it waits for the gain
Private equity acquisitions in Australia are slumping and the job market is looking shaky too, with major firms reluctant to grow their headcount. In the six months to December 2008, PE firms spent just $US616m on Aussie buy-outs, the worst half-yearly performance since early 2005 when the industry was still comparatively young, according to figures [...]
Two thirds of staff to go at Babcock & Brown
Australian infrastructure investor Babcock & Brown has set a new record for staff cuts at a going concern. It announced this morning that it plans to cut headcount by almost two thirds between now and 2010. Babcock’s stock has plummeted 99% this year, and today’s announcement followed a warning that it was in danger of [...]
Is private equity past its prime?
Are the Barbarians still at the gate, or are they about to join the dole queue? Just how well are Australian private equity firms coping with the financial crisis? The industry certainly seems to be in a spot of bother – deals are down as unfavourable market conditions take their toll. Debt is too high, [...]
Private equity jobs lose momentum
Australia’s private equity scene has taken a breather over recent months, in line with global financial markets. Likewise, the private equity jobs scene is also having a quiet spell at the moment, according to recruiters, with the biggest activity on the cards likely to be from private equity firms shedding staff, rather than hiring. But [...]
Carlyle bucks downturn in leveraged finance hiring
Carlyle Group is expanding in Australia with the appointment of ex-ANZ banker David Balint as director of leveraged finance. The US-based private equity firm will now have two dedicated teams Down Under – buyout and leveraged finance – with eight executives based in its Sydney office. According to Balint, this is just the start of [...]
Jobs await the brave in private equity
Private equity recruitment is only just keeping its head above water in Australia, but opportunities are still out there for those bold enough to switch jobs. The liquidity crisis has made debt harder to come by and this is putting a dampener on growth and hiring within private equity, according to Tony Garrett, a corporate [...]
Jobs at Chinese PE funds, but not for Westerners
Chinese private equity is surging ahead – but don’t just expect a job on the back of the boom. Total funds invested in China grew to US$20bn in Q1 2008, up by almost 60% from the previous quarter, according to new figures from research company Zero2IPO. But while established Hong Kong-based professionals are spearheading the [...]
Deutsche looks beyond domestic market
Aussie banks are on the prowl overseas, picking up choice hires because the Australian market is robust and financial services is short of candidates. Grant Chamberlain, Deutsche Bank’s deputy head of M&A in Australia, says the firm is finding it difficult to source candidates who live locally. Most of its interviewees are Australians living abroad. [...]
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