Investment Strategy

Asset managers decry share sale process

Guy Foster, head of equity capital markets in Australia for Bank of America Merrill Lynch, was red in the face. It may not have necessarily been because three asset managers at the Ownership Matters governance conference were voicing criticism of investment banks hired to sell shares for companies. “Long-term shareholders are discriminated against” in many […]
Investment Strategy

Returns, costs of private equity questioned

The audience was aghast. This was not what they had come to hear. David Brown, chairman of the Australian Private Equity and Venture Capital Association, was momentarily befuddled. It was after all a conference for Australia’s most prominent private equity firms organised by the Asian Venture Capital Journal. To question the industry in such a […]