☕ Macq payday

Good morning. So we've got a new King now I guess, with the coronation ceremony reportedly costing UK taxpayers — yep, the Government pays not the royal family — up to £100m.

Good morning. So we've got a new King now, I guess, with the coronation ceremony reportedly costing UK taxpayers — yep, the Government pays, not the royal family — up to £100m.

—

ps. if this was forwarded to you, you can sign up for LOI at letterofintent.com.au

LOI Subscriber #TBD

MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: Macquarie had another record year, reporting a $5.2bn profit in FY23 (up 10% on FY22).

The record results helped Shemara Wikramanayake (the CEO) clear $33m in total remuneration. Each of the group heads at Macquarie also cleared some serious dosh, most notably:

  • $58m for N Kane (Head of Commodities and Global Markets)

  • $17m for B Way (Head of Macquarie Asset Management)

  • $11m for M Silverton (Head of Macquarie Capital)

  • $11m for G Ward (Head of Banking and Financial Services)

THE QUICK SYNC

  • Six of the best: $20m mansions in Vaucluse, Woollahra, Perth and more. (AFR)

  • Auction clearance up despite rising interest rates. (Australian)

  • PwC Taxgate: The ‘dirty 34’ and PwC’s global tax dodge. (SMH)

  • Macquarie’s Nick O’Kane trumps CEO again with $58m payday. (AFR)

  • Optiver talks to staff following allegations of ‘toxic’ culture. (Australian)

  • ‘Ponzi-like’: Wall Street titan loses $15b in one day after short-seller attack. (SMH)

  • Recap of everything Buffett and Munger said at Berkshire’s annual meeting. (CNBC)

TRADING FLOOR

M&A:

  • Forever New's 50% owner has called in KPMG to hunt for an investor to buy him out. (AFR)

  • Probiotec has Canterbury Partners quietly vetting M&A options. (AFR)

  • Meteoric Resources could soon be positioning itself for an equity raising or a partial sale after a rare earth discovery in Brazil. (The Australian)

  • Bain Capital is understood to be selling Craigcare and is set to walk away from its $775m takeover target Estia. (The Australian)

  • Asset sales could soon be on the agenda as ANZ vies for Suncorp Bank. (The Australian)

  • Sixth Street and BGH Capital consortium's takeover of Pushpay sailed through a shareholder vote last week. (AFR)

  • Fusion5 has acquired Liberate I.T. for an undisclosed sum. (BNA)

  • Glenn Piper buys the popular Commodore pub on Sydney’s lower north shore for $29m. (SMH)

Capital Markets:

  • Pacific Equity Partners locks in $1.4bn for its second secure assets fund with $80m coming from The Clean Energy Finance Corporation. (AFR)

  • Brisbane Markets announced a key change in its constitutions, removing the industry shares and paving the way for an IPO within four years. (AFR)

  • Nicolab International Limited taps Morgans for a pre-IPO round. (AFR)

  • Jarden and UBS have won the mandate to float Mondiale VGL. (The Australian)

  • Group 6 Metals launched a $32m raising on Friday. (AFR)

  • 4D Medical launched a $10m placement and SPP to raise another $10m. (AFR)

VC:

  • None

Others:

  • Guzman y Gomez’s CEO has resigned months after leading the Mexican fast-food chain through a secondary sale. (AFR)

  • Allegro Funds poaches Herbert Smith Freehills' Rachel Lawler for its investment team. (AFR)

TOGETHER WITH VIOSTREAM

Viostream is a corporate video hosting platform built for the enterprise.

Securely upload and share corporate videos with shareholders, media partners or within your department -- all using your own branded experience. Our comprehensive audience controls ensure only the right people have access to your videos.

Try it today at viostream.com or reach out to Brendan at [email protected] to learn more.

THE WATERCOOLER

Looking to hire someone that would read LOI?

Post your roles on LOI jobs board.