☕️ Longevity luxe

Good morning.

Eucalyptus co-founders Tim Doyle and Charlie Gearside are betting that more than just Patrick Bateman types will shell out $1,000 a month for peak performance self-care routines. With their lucrative GLP-1 weight loss drug facing a ban, the Sydney-based health startup is making a bold shift into the longevity trend.

Gearside told Capital Brief’s Jack Derwin their new venture, Compound, is all about maximising male health for a cool $995 a month.

“We want to intercept people upstream from the traditional healthcare system, before they get sick,” Gearside said. Think bespoke diagnostics, X-rays, blood tests, diet plans, supplements and the works – but sorry ladies, this one's a boys-only club.

🏆 LOI Subscriber #TBD

Market movers

Shares in the 178-year-old Insignia Financial jumped 13.6% Monday after the AFR’s gossip column said it enlisted Citi while private equity types, led by Brookfield’s Len Chersky, circle the wealth manager.

With Scott Hartley barely settling into his new CEO digs, the paper said other PE firms had shown interest, including Bain Capital, while former MLC CEO Geoff Lloyd had been seen spinning his turnaround credentials to potential suitors.

The quick sync

• Bendigo and Adelaide Bank’s board has begun assessing whether non-exec ­director and former Star Entertainment chair David Foster is an appropriate person to oversee its operations. (The Australian)

• New Star Entertainment chief executive Steve McCann says its casino business might never return to the ‘‘glorious’’ boom times it once enjoyed, future on restaurants and hotels. (AFR)

• A growing cohort of independent publishers, including The Daily Aus and Broadsheet, are urging the government not to take action against Meta, warning of a devastating revenue hit if the Facebook parent bans news. (Capital Brief)

• Grattan Institute CEO Aruna Sathanapally says she wants to increase the think tank's focus on technology and its potential for the Australian economy, criticising the Coalition's nuclear policy as a "distraction". (Capital Brief)

• AI to free up hours of work and curb human error for legal workers: Survey. (Capital Brief)

• Annie Cannon-Brookes has scooped up more real estate in Mission Beach, the far north Queensland hamlet, buying a prime 19ha beachfront residential site for $4.5m. (The Australian)

Trading floor

M&A

• Bapcor reaffirmed profit guidance, appointed a new CEO, and rejected Bain Capital's takeover bid as too low. (Capital Brief)

• Insignia Financial hires Citi Australia amid potential private equity acquisition interest. (AFR)

Capital Markets

• Hastings Technology Metals secured a $7m investment from JL Mag for its Yangibana rare earths project, boosting its position amid rising global demand for rare earths. (SMH)

• QIC is investing $80m in junior loan financing for HES International BV, a key player in Europe's bulk port facilities, amid geopolitical tensions in the region. (The Australian)

• Groq raised $445m in a Series D round, with BFA Global Investors securing a $14.8m stake. (AFR)

• Bell Potter downgraded IGO to 'sell' citing lower lithium prices and negative market sentiment. (Capital Brief)

• Brisbane's Icon Group has acquired Pharmaxo as part of its strategy to expand cancer treatment services in underserved communities. (The Australian)

VC

• Sydney startup Fugu raised over $1m to develop its CO2-sucking machines, aiming for a Series A in 12-18 months. (Capital Brief)

• Perth's InterEarth secured an $8.25 million deal with Germany's SEFE to expand its carbon dioxide removal solution globally. (BNA)

• KC8 Capture Technologies raised $10m for its proprietary non-toxic carbon capture solvent, backed by Woodside Energy and Cemex Ventures. (Capital Brief)

People moves

• Riverside Company hired former Deliveroo CEO Ed McManus as a senior operating partner for its Australian business. (AFR)

• Star Entertainment Group is hiring former Crown Resorts executives amid regulatory scrutiny. (The Australian)

• Alceon appoints former Goldman Sachs partner David Gribble as CEO. (AFR)

Together with AGL

Accelerate your change to driving electric with an EV subscription

AGL is on a mission to make it easier for everyone to drive electric. Their EV subscription offers everything you need to get on the road - without the need for a longer-term commitment.

Pick from a range of flexible contract options and electric cars – including models from Tesla, BYD, BMW and Mercedes. And with all-inclusive subscriptions that include registration, insurance and standard maintenance, your EV’s ready to drive.

Find out how to make your next car electric with AGL’s EV subscriptions.

The watercooler