CC Capital bids $2.9b for Insignia in private equity shootout 

CompaniesFinancial ServicesManaged fundsEmma RapaportCo-editor, Street TalkUpdated Jan 6, 2025 – 4.28pm, first published at 11.07amSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Insignia Financial, the ASX-listed wealth giant put in play by Mike Murphy’s Bain Capital last month, is assessing a $2.9 billion cash offer from another private equity firm, instigating a bidding war for the owner of MLC.Insignia told shareholders on Monday that New York-headquartered CC Capital Partners had lobbed a competing bid, trumping Bain Capital’s December 13 offer and sending the stock rallying 12 per cent to $3.97 a share.Loading…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 [email protected] to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? License articleLatest In Financial servicesFetching latest articlesMost Viewed In Companies