Jarden

Our Head of Equity Capital Markets Origination Millie Horton has shared her thoughts on the IPO outlook with The Australian's Matt Bell. While 2024 had been weak in terms of IPO volumes, investors had been starved of issuance in recent years, and equity capital markets had shown signs of recent strength. “Investors are engaged on high-quality opportunities with strong appetite for scale issuers, where there is confidence around market liquidity. The majority of recent deals have traded strongly and above offer price – helping fuel confidence," Millie said. A successful IPO market next year would depend on further stability in rates and inflation. Economists don’t expect the Reserve Bank to cut rates until early 2025, which Millie said would make it easier to raise capital and incentivise listings, particularly in the tech, health and renewable energy sectors. “There are definite signs of momentum building, with several larger-scale companies in preparation behind the scenes to maintain flexibility to launch an IPO once there’s more clarity around market conditions, interest rates, and inflation." 🔗 https://lnkd.in/g4RU_2Z5

In today’s NBR - National Business Review's Dealmaker Series Mitchell Schauer talks to Lachlan Colquhoun about what’s behind the action in the real estate sector. One of the main features has seen the return of Japanese investors, who have been the biggest offshore players over the past 18 months. Mitch says: “A big part of that is relative interest rates and prospective relative returns. But it also has to do with the Japanese economy itself, with its features of low economic and population growth, and Australia has always been a great destination for this capital.” Mitch also notes much of the action in the real estate sector has been in private capital. "It’s at a tipping point that’s been building for decades driven by the growth of Australian superannuation funds which have been taking active stakes in listed companies, as well as taking public companies private", he says. “The Australian superannuation funds have been growing through inflows and mandated mergers, and now there’s six mega-funds. This is a trend that’s been building in front of our eyes for decades and, while it has been slow moving, I think it has very much reached an inflection point where the critical mass is there and there’s no going back. That’s not to say that public markets are dead – it’s just the dynamics have shifted.” The NBR notes Jarden’s eight deals in this sector over the last two years with a total value of A$15bn, including: -      Recapitalisation of ADIA and ESR’s A$3bn logistics and industrial property venture -      The establishment of Mirvac’s A$1.8bn built-to-rent venture funded by Japanese and domestic investors -      Working with Stockland on two deals: the A$1bn land lease community partnership between it and US group Invesco, and the A$1.3bn acquisition of masterplanned communities from Lendlease -      The NZ$290m deal for New Zealand-listed Goodman Property Trust to internalise its management and create a new property funds platform

In the 2024 NBR - National Business Review’s Dealmakers Series our Co-Heads of Investment Banking New Zealand Silvana Schenone and Sam Ricketts share a number of observations that they believe will drive an uptick in M&A activity. Silvana and Sam noted that private equity firms are currently holding a record number of portfolio companies and record levels of unspent cash. “This will absolutely drive deal momentum as private equity seek to divest existing portfolio assets, return investors capital, and find new opportunities to deploy unspent investor funds. Private equity doesn’t really have a choice if they want to raise new funds because investors want their capital back and committed capital to be deployed.” They believe we will see more corporates streamlining their operations via divestments – such as Fonterra’s multi-billion-dollar Consumer division sale process, which Jarden is advising on. The continuing divergence between public and private market valuations should provoke more takeover activity as well.  🔗 (sub needed): https://lnkd.in/g79eiE9m

Our Head of Technology Bryce Thompson will be discussing mergers and acquisitions in the technology sector at the 6th Mergermarket M&A Forum Australia. 🔗 https://lnkd.in/gimzM9XH

In today's New Zealand Herald's Mood of the Boardroom, our Co-Head of Investment Banking Silvana Schenone calls out the infrastructure deficit as one of the top issues facing New Zealand. Silvana says: “The Government needs to incentivise investment and welcome foreign investment with stable policies and regulatory environment. Infrastructure projects are by nature long term and large. They need stability.” 🔗 (sub needed): https://lnkd.in/gKvuf8Xn

Our Head of Real Estate Mitchell Schauer will be speaking at Living Sectors Summit in November. More info here: https://lnkd.in/gBmdfRNk #LivingSectorsSummit

It's an interesting time in the aviation sector. While Bonza and Rex have collapsed, Qantas is putting in great efforts to refresh its image. There’s also talk of a Virgin IPO and Air India’s plans to boost competition. Plus, the government just unveiled a white paper on the future of the industry. Jakob Cakarnis, CFA chats to Sean Aylmer about all this. Thanks as always Fear & Greed. 🎧 https://lnkd.in/g6mJ4cdU

Speaking at the Australasian Investor Relations Association (AIRA)’s annual ESG event, our Head of ESG Research Michaela Jamison shared best practice ESG reporting and trends. Here are some key takeaways: - Establish a clear strategy with defined targets and progress. - Use consistent metrics. - Ensure transparency in data: clarify what's measured and why. - Focus on sector-specific material factors—reporting every ESG metric isn’t necessary. - Highlight trends, not just absolute numbers. - Consider adding an ESG data book alongside sustainability or annual reports. - Provide early assurance. #esg #esgreporting

Ben Gilbert spoke to Nadine Blayney on his key takeaways from the latest reporting season across consumer stocks. Ben described the reporting season as a story of "the haves and have nots." He noted that quality names that performed well or met expectations re-rated, while companies that were seen as weaker or less structurally sound suffered. 🎧 https://ausbiz.co/3MGgYRH

In today's The Australian Financial Review our ESG analysts Michaela Jamison and Ellie Davies share their thoughts on the recent reporting season. “Despite the increasing anti-ESG rhetoric that is coming out of the US, ESG continued to be a hot topic in Australia." Their analysis showed a 13% increase in mentions over the past year. That included a 3% increase in talk about renewables, a 13% rise in mentions of the energy transition and a 24% increase in discussions about climate exposure. https://lnkd.in/gVr8FPiD