Good evening,

Forget Taylor Swift – it’s TEG’s auction that’s the main show. Well, at least it is for the bankers at Jarden, Goldman Sachs and Jefferies.

Street Talk can reveal KKR has signed a strategic partnership with Qantas Loyalty for a potential tilt at the Ticketek owner, ahead of the indicative bids deadline on Friday.

That’s a heavyweight pairing (Jarden is providing advice), and it would be going up against Blackstone, which is working with Goldman Sachs and has been stalking TEG for almost a year.

It’s all great competitive tension for the seller, Silver Lake, and its adviser Jefferies. The question is if the interest firms up to a juicy enough bid on the table come Friday.

Elsewhere, we spotted investors preparing for online retailer Pet Circle – a card-carrying unicorn from 2021 – to pull the trigger on a capital raising that would test its valuation.

In infrastructure, we dug up the identity of Brisbane Airport’s seller from our Tuesday evening scoop; got a peek at a secondary out of AustralianSuper; and found former IFM Investors boss Brett Himbury luring a key member of his executive bench to his new employer.

Happy reading,

Sarah Thompson, Kanika Sood and Emma Rapaport
Street Talk Editors