ASIC will spend the next two years looking at private markets deals, including a deal-of-the-year in the making.
A senior ASIC source, who was not permitted to speak on the record, said the Australian Securities and Investments Commission would step up its monitoring of landmark private markets deals to make sure those involved were not misusing confidential information, including at Australia’s AirTrunk. Its auction could reset valuations of data centre owners and developers globally.
The regulator is also expected to assess AirTrunk and its buyers’ disclosures to see whether they divulge sensitive information, and whether they act consistently with any public statements made throughout the auction. ASIC chairman Joe Longo flagged private markets as an area of priority in the group’s five-year corporate plan, to be released on Thursday, saying he wanted to shore up trust and confidence in financial markets.“While Australia’s private markets are dwarfed in size by our listed equity markets, their opacity presents an outsized risk to market integrity, particularly as more investors become exposed,” Mr Longo said in a statement.
Sources involved in AirTrunk’s sale said they were unaware of any interest from ASIC. The regulator is expected to review the deal and associated disclosures once it has been signed.
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