Bain Makes $1.7B Cash Offer for Aussie Wealth Manager Insignia

Boston-based global private investment firm Bain Capital has made a cash offer worth approximately $1.7B to acquire and take private Australian wealth manager Insignia Financial.

Insignia said that it received an indicative proposal from Bain Capital expressing interest in buying all of its shares for AUD$4 ($2.54) per unit in cash, subject to several conditions including due diligence and approval from its board. Based on Insignia’s nearly 668 million shares outstanding, that translated to a purchase price of nearly AUD$2.7B ($1.7B).

The Melbourne-based firm further said that its board, along with its financial and legal advisors, is considering the proposal while noting there is “no certainty” Bain’s proposal will result in a binding offer or that a deal will materialize.

Should a deal come to fruition, it would represent Bain’s first foray into the Australian wealth management market. In the US, the firm has backed the Carson Group since 2021 and CI Financial since 2023.

Written By: Dakota

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Bain Makes $1.7B Cash Offer for Aussie Wealth Manager Insignia

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