Street Talk First Look

Thursday

August 5, 2021

Street Talk

First Look

Good evening,

The auction for Harris Farms is heating up.

Private equity firms are leading the field, with Bain Capital, Quadrant Private Equity, Pacific Equity Partners and Alceon Group’s PE arm all understood to be in the running.

Goldman Sachs is leading the process.

But despite the level of interest, it’s still unclear what the Harris family truly desires – control, a minority stake or debt refinancing. With flexibility being the name of the game, that sways the odds to those happy to be adaptable.

Elsewhere, SG Lottery’s maiden pitch to investors has been typically slick but light on details; the four biggest block trades all went to Afterpay on Thursday and Goldman Sachs picked up all of them; Perennial has locked in $100 million of its third private-to-public fund, and the Extract Resources band is back together with Copper Search.

Happy reading,

Anthony Macdonald and Yolanda Redrup
Street Talk Editors

Tomorrow’s headlines

Street Talk

Goldman Sachs collects Harris Farm bids, ball in family’s court

Indicative bids are in for grocer Harris Farm, with private equity firms dominating the field of potential investors.

Street Talk

‘Robust’ SG Lottery in maiden pitch for $5b IPO

If there are two things that fund managers know, it is that Americans can sell and bankers know how to present IPO candidates.

Street Talk

Block watch: Afterpay trades run hot

There’s never been more interest in institutional Australian blocks.

Street Talk

Perennial hits $100m for its third private to public fund

With half the cash raised, investors have until August 18 to buy into Perennial’s third private-to-public fund, which is targeting $200 million.

Street Talk

Extract Resources team reassembles for Copper Search

It’s been nine years since Extract Resources was sold to a Chinese buyer for $2.4 billion, but its management team is now back together with Copper Search.

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