About Babcock & Brown
Babcock & Brown is a global investment and advisory firm with longstanding capabilities in structured finance and the creation, syndication and management of asset and cash flow-based investments. Babcock & Brown was founded in 1977 and is listed on the Australian Stock Exchange. Babcock & Brown operates from 18 offices across Australia, the United States, Europe, Asia and Africa, and has in excess of 600 employees worldwide. Babcock & Brown has five operating divisions, including real estate, infrastructure and project finance, operating leasing, structured finance and corporate finance. The company has established a number of focused investment vehicles in areas including renewable power projects, real estate and infrastructure. The company has established a funds management platform across the operating divisions that has resulted in the establishment of a number of focused investment vehicles in areas including real estate, renewable energy and infrastructure.
Latest Babcock & Brown News
Sep 27, 2023
Share Dealmakers from Singapore’s Temasek appear to be accelerating hopes to offload the 40 per cent of gas and electricity distribution giant Jemena, meeting with prospective buyers this week, sources told Street Talk. Singapore Power, a subsidiary of Temasek, came to own Jemena after buying the then ASX-listed Alinta with Babcock & Brown in 2007. A split of the business left Singapore Power with sole ownership of Jemena. It offloaded a 60 per cent stake to State Grid Corporation of China in 2014. Jemena operates the largest gas distribution business in NSW, along with a half stake in the ActewAGL distribution partnership, an electricity network business and renewable energy group Ovida. Jemena is one of the largest operators of gas pipelines on the East Coast. Jason South Sources said there was no formal sales process under way. Bankers have visited the company’s Singapore offices for several years, and been told it would not hang an official for sale sign but was open to offers. It is understood to have retained an investment bank. However, Singapore Power faces a number of challenges in finding a suitable – and deep-pocketed – buyer for its stake in Jemena. The first is the majority ownership by State Grid, a state-owned enterprise. That might be too high a hurdle for some groups given the fraught relationship between Canberra and Beijing, not withstanding a recent thaw. Advertisement The second consideration is the split of the business between electricity network and gas pipeline assets. The third would be the size of any potential deal. Jemena has more than $11 billion in assets in its portfolio, and would likely be valued at as high as $15 billion. That would mean Singapore Power’s stake could be valued at between $5 billion and $6 billion, sources said. Jemena declined to comment. It has been a big year for energy deals. APA Group, the ASX-listed operator of gas pipelines, last month clinched a deal to buy Alinta’s remote power assets in Western Australia’s Pilbara region for about $1.8 billion. Those assets were put up for sale by Alinta’s owner Chow Tai Fook Enterprises via Goldman Sachs earlier this year. Initially, Chow Tai Fook wanted to retain 20 per cent of the assets, but quickly decided to sell out completely. There was also plenty of movement around EnergyAustralia, where Hong Kong’s CLP Group has been labouring over the potential divestment of a 50 per cent stake. Macquarie, as The Australian Financial Review first reported in June , was one party seriously considering an investment. CLP was being advised by Morgan Stanley on that process. Unlike EnergyAustralia, Jemena has been lucrative for its owners. In the 12 months to December, it posted a net profit after tax of $301.3 million, up from $217 million. It paid out $165.4 million of that in dividends. Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at firstname.lastname@example.org Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at email@example.com Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter . Email Emma at firstname.lastname@example.org Save
Babcock & Brown Frequently Asked Questions (FAQ)
When was Babcock & Brown founded?
Babcock & Brown was founded in 1987.
Where is Babcock & Brown's headquarters?
Babcock & Brown's headquarters is located at Liverpool.