Good evening,

Oaktree Capital is gearing up for another run at Australia’s lucrative gaming industry.

Street Talk can reveal the US investment giant is trying to get in on one of the most-watched refinancing deals of the year alongside Bain Capital.

Sources said the heavyweight duo are weighing up putting forward a joint proposal for Star Entertainment.

Oaktree has tried time and time again to get into the local market, lobbing a $3 billion bid to fund a share buyback in Crown Resorts in 2021.

Elsewhere, Mercury Capital’s volunteer tourism business HQ Travel Group is up for sale, calling in Kiwi investment bank Cameron Partners. A 12-page teaser, seen by Street Talk, said the business’ total transaction volume was expected to double in the next three years.

Finally, we checked in on Alinta’s WA power asset auction, which is expected to name a winning bidder in the coming weeks, uncovered another Asian buyer checking out Australia’s vitamin and supplements brands and spotted investors jamming money into property debt funds.

Happy reading,
Sarah Thompson, Kanika Sood and Emma Rapaport
Street Talk editors