Super funds, sovereign wealth names to play bigger role in deals, while private equity buyouts should return in second half of 2023.
Deal makers across a wide swathe are adjusting to a new normal for mergers and acquisitions defined by higher rates, inflationary pressures and geopolitical uncertainty, all of which should depress the level of activity throughout 2023.
While activity should be subdued compared to recent years, infrastructure, mining and energy sectors will remain green shoots for bankers looking to do deals. M&A activity should slow this year, but bankers are buoyed by infrastructure opportunities as more investors eye Australian assets.Institutional investors such as superannuation funds will also play an increasingly prominent role in how transactions are structured, banking executives toldA bankers will monitor corporate earnings closely over the next two quarters – particularly in consumer-facing industries such as retail – to gauge how inflation is impacting on spending and profits.
“But, Australia is screening globally as the preferred destination for transactions”, and this has bankers buoyed for an uptick of activity later this year.
“The world is a volatile place, but Australia is steady,” said Richard Wagner, chief executive and Mr Church’s investment banking co-head at Morgan Stanley.
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