”So with Virgin flying high, where could Bain find the next set of deals?
The first industry Murphy mentions is wealth management, where Bain has previously launched bids for Insignia (formerly known as IOOF) and Perpetual, without any luck.
While Murphy appears a little frustrated at the situation at Insignia, where rival private equity bidder CC Capital is still in takeover talks – “I really am a little perplexed as to where that’s at at the moment, I’ve heard nothing about CC and where they might be” – his interest in the industry has not been diminished. The tailwinds of Australia’s ageing population, the looming intergenerational wealth transfer and sheer scale of super savings mean the industry is still attractive, whether with the above targets or others.”
Bain appears to be still interested. Let the bidding begin.
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