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Australian corporates warming to private equity, says Blackstone

Australian corporate boards are now more receptive to engaging with private equity firms than they have been at any time in the past ten years, according to Michael Blickstead, Blackstone Inc’s head of private equity in Australia & New Zealand.

Australian corporate boards are now more receptive to engaging with private equity firms than they have been at any time in the past ten years, according to Michael Blickstead, Blackstone Inc’s head of private equity in Australia & New Zealand.

The report cites Blickstead as saying in a recent interview that “views on private equity are beginning to change” at corporate board level, transforming a previously sceptical view of the industry into a more positive perception of the potential benefits of engaging with private equity firms. 

Blickstead believes that the shift in attitude may be the result of activism on the part of shareholders and the region’s large pension funds. “For whatever reason, they now see engagement as part of their fiduciary duty and that private equity offers a real option for maximising value,” he said.
 

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