Its a miniature Macquarie Bank so you have to look at all parts, boutique, private equity/ fund manager/ pre ipo fund.. .yes fee/income which is probably now $5-10a year from here on conservatively given the family offices they are doing deals with. Add the FUM fees and away you go. Ive just put a $200 target price on it internally. Merry Christmas
I actually added more this week.
Ann: Completion of initial Luxury Escapes investment, page-4
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