A bidding war may break out for Platinum Asset Management, with prominent investor Geoff Wilson said to be among the parties interested in the funds management group.
A bidding war may break out for Platinum Asset Management, with prominent investor Geoff Wilson said to be among other parties interested in the funds management group co-founded by legendary investor Kerr Neilson.
However, the kingmaker in any deal with Platinum will be Neilson, whose personal wealth is estimated at $1.56 billion, according toRich List. Neilson, who manages his own money and turns 75 this month, remains the largest shareholder in Platinum with a 22.5 per cent stake, valued at $158 million.
Chinese stocks have had some of their biggest gains in almost two decades after that country’s government recently unveiled a stimulus package to revitalise growth, amid curdling economic sentiment and deflation. At the end of August, Platinum had $12 billion in funds under management. Wilson Asset Management has about $5.5 billion in funds under management.
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