Palisade Infrastructure Partners,which owns part of the Gold Coast light rail among other projects,has a 14 per cent stake on the market as one of its directors leaves.Credit:Glenn Hunt
Former Macquarie bankerDan Roberts has put up the shingle and is flogging his 14 per cent stake in low-profile infrastructure fund Palisade Investment Partners,major shareholders in the Sydney Metro Northwest project and the Gold Coast light rail.
We hear Roberts has called in Pottinger as he works out what to do with his ownership over the $2.7 billion fund manager since resigning as executive director in August.
As yet,no takers,and the growing likelihood his holdings will simply return to the new staff.
He’s kept busy since leaving the Palisade board,overseen by former Perpetual infrastructure bossRoger Lloyd,splashing out $7.4 million (a new record) for a sprawling Roseville home.
We’re told Roberts struck gold independently of Palisade,potentially in some cryptocurrency related deal,giving him the space to leave the outfit.
Even with returns of 14.5 per cent in the last year,infrastructure remains a difficult patch even for major investors like Morgan Stanley Infrastructure Partners.
Despite more than five years as managing director,Mark McLean managed to close just one deal in Australia — the $1.6 billion buyout of PEXA with the Commonwealth Bank and Link.
Last year a $7.2 billion bid for Tatts Group with private equity outfit KKR went nowhere.
So you can’t blame Roberts for taking the exit,swanning about the north shore as he prepared to take on a new job,currently listed as TBC.
Long road to Burwood,VIC
Congratulations are in order for Hawker Britton lobbyist turnedMichael Daley staffer (of two days)Claire March,who has finally made her way to Melbourne to begin campaigning.
That's a full six days,for those counting,after leaving Macquarie Street on notice so short her colleagues were still congratulating her for landing the job as she was packing her bags.
Must have been urgent.
Despite one Victorian Labor source telling CBD no local campaign had heard from her since June,March managed to make it down to hand out for Burwood candidateWill Fowles,who just happens to be ... another lobbyist.
We'd love to know what"substantial expertise in the interface of business and government” means.
Fools gold at Kennedy's shop
LK Jewellery,run by James Kennedy,sacked most of its marketing team with no explanation provided.Credit:Wayne Taylor
Is something untoward afoot at Double Bay watch purveyor andMark Bouris menteeJames Kennedy’s multimillion dollar luxury goods empire?
We have it on good authority that at 9.45am yesterday,LK Jewellery’s entire marketing team - numbering about eight - was herded into a boardroom meeting.
One left with their job.
It was only six months ago its marketing and communications directorAlicia Pau left.
The business is not only the official Rolex dealer in Australia,running 10 stores including Rolex Martin Place and Kennedy Crown in Melbourne,but owns the local Bang&Olufsen franchise.
All this activity just months after Kennedy's three-day Italian wedding in Florence.
Just imagine those bills!