GQG heads for $5b float; EGP’s sunny future; AP Ventures IPO; KPMG raid

Good evening,

Just as earnings season comes to an end, there’s a new wave of IPOs about to land. Global equities tearaway GQG Partners is prepping for a big pitch to investors next week as it eyes a $5 billion IPO in the December quarter.

The Florida-based stockpicker was established by Rajiv Jain, formerly of Vontobel Asset Management, in 2016. It banked $US250 million in EBITDA in the last year, with a 75 per cent or so EBITDA margin.

Similar in size to Magellan, GQG is sure to be compared with Hamish Douglass and Chris Mackay’s outfit.

Elsewhere: Elliott Green Power’s bankers are whetting the appetite of potential buyers of the $600 million-odd solar assets; it turns out AP Ventures capital raising is part of an IPO and the newly named Touch Ventures will list in late September; FinClear is kicking off another capital raise, this time with an almost $500 million price tag; and Duff & Phelps has poached a pair of KPMG stalwarts to spearhead its new valuations practice.

Happy reading,

Anthony Macdonald and Yolanda Redrup

Street Talk Editors