Gladesville house sells for $2.8 million to local family - Domain News

[unable to retrieve full-text content]

Gladesville house sells for $2.8 million to local family  Domain News
Gladesville house sells for $2.8 million to local family - Domain News
Read More

Everybody facing Katherine Local Court, Monday, July 24 - NT News

[unable to retrieve full-text content]

Everybody facing Katherine Local Court, Monday, July 24  NT News
Everybody facing Katherine Local Court, Monday, July 24 - NT News
Read More

Victorian local council 'going after' deep fried food - Sky News Australia

A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. Find out more about our policy and your choices, including how to opt-out.Sometimes our articles will try to help you find the right product at the right price. We may receive payment from third parties for publishing this content or when you make a purchase through the links on our sites.

Adblock test (Why?)

Victorian local council 'going after' deep fried food - Sky News Australia
Read More

Logan City’s Langer Trophy local deby - Courier Mail

[unable to retrieve full-text content]

Logan City’s Langer Trophy local deby  Courier Mail
Logan City’s Langer Trophy local deby - Courier Mail
Read More

EQT launches local private wealth strategy, Zurich bigwig flies in - The Australian Financial Review

Street Talk

Jul 23, 2023 – 8.00pm

In a little over three years, EQT has gone from zero to some $8 billion in deals around the country. Now the Swedish private equity firm is growing again, launching its first private wealth fund in Australia.

Street Talk can reveal Zurich-based EQT managing director and head of fund strategy, William Vettorato, arrived in Sydney in recent weeks and is expected to start meeting with a broad range of financial institutions and distribution partners ahead of the launch of the fund, known as Nexus.

It is believed EQT has appointed Channel Capital as its local service provider to operate the Australian unit trust.

EQT managing director, William Vettorato, will lead the Swedish buyout fund’s private wealth strategy in Australia.  

Nexus has already been rolled out in Sweden as EQT moves to provide access for high net worth individuals and family offices to its portfolio. The fund started with assets worth some €350 million ($579 million) and EQT has made commitments of about €700 million, it told investors this year.

The pitch to investors, sources said, is that through a single investment, EQT can provide them with access to a global, diverse platform of strategies and asset classes from early-stage venture capital and life sciences to massive private equity buyouts and infrastructure deals. Nexus will also co-invest in companies alongside EQT’s funds, those sources said.

But EQT appears to be more selective in the investors it will bring onboard locally. In Europe, Nexus is targeting individuals with a minimum investment of €25,000. In Australia, it is expected to make Nexus available to wholesale investors at a minimum allocation of around $500,000. But wealthy investors will also be able to access the fund at lower ticket sizes through local aggregators.

In an update to investors earlier this year, EQT managing partner Christian Sinding said Nexus was “part of a strategic priority to grow and, over time,
scale [the firm’s] efforts across private wealth”. “Whilst the private
wealth segment represents a $US135 trillion ($200 trillion) capital pool, today, just two percent of global allocations to private markets come from private wealth,” Sinding wrote to shareholders at the time.

EQT is, itself, a spin-off from a family office owned by the Wallenbergs, the wealthy Swedish industrialists who now own large stakes in companies ranging from AstraZeneca to Ericsson. They still own 15 per cent of EQT.

The private equity firm earlier this month closed its fourth industrial real estate fund at $7.2bn. Last year the firm closed an Asia-focused private equity fund at $16.5bn. In Australia, it teamed up with Phil King’s Regal Partners to make a $1.1 billion play for Perpetual and last year splashed $530 through its Baring Private Equity Asia arm to buy the Hilton Sydney.

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 sarah.thompson@afr.com

Adblock test (Why?)

EQT launches local private wealth strategy, Zurich bigwig flies in - The Australian Financial Review
Read More

Now Open: Hurricane's Cronulla Has a Focus on Local Seafood and a Mediterranean-Style Fit-Out - Broadsheet

During its first month of trade in 1995, Hurricane’s Bondi Beach sold a single burger. “It was so scary,” founder Tony Teixeira tells Broadsheet. “We had maybe 10 customers a day and we had to pay rent, cover our overheads, make an income. But over time, it picked up and we got more confident.”

Since then, that confidence has seen him part ways with his co-founder and open five locations across Sydney and Surfers Paradise, the newest of which is in Cronulla. His ex-business partner also runs three separate Hurricane’s restaurants.

Like all Hurricane’s venues, the Cronulla eatery has a core menu of lamb and pork ribs in house-made sauces, plus steaks and burgers. Dry-ageing is unique to Cronulla, with a 1.5-kilogram tomahawk, a Tajima Wagyu sirloin and a Great Southern Pinnacle Scotch fillet all on the menu. Seafood is also in the spotlight.

“We really wanted to focus on local seafood at Cronulla,” says Teixeira. “On the raw bar we’ve got Sydney rock oysters, kingfish ceviche and scallops crudo, and for entrees there are Hervey Bay scallops with lime, miso and garlic burnt butter; grilled king prawns; and a beautiful seafood platter that comes with a whole lobster.”

The beachside 300-seater is the first restaurant Teixeira has opened since the pandemic. The fit-out nods to the Mediterranean, specifically Teixeira’s home country, Portugal. The colour palette is muted, with shades of olive, blush and cream, and timber seating that accents the curved sandstone and natural plaster on the walls. “We wanted our customers to feel like they’re sitting in a restaurant in Spain or Portugal,” says Teixeira. The Mediterranean is well-represented on the wine list as well, with a solid list of European drops, as well as Australian and Californian varietals.

Hurricane’s Bondi restaurant just celebrated its 28th birthday, and as the new Cronulla team finds its feet, Teixeira is philosophical. “I was a lot younger when we opened – opening that first venue was so exciting. I didn’t know what was going to happen next, and I never expected to be where I am today.”

Hurricane’s Cronulla
Shop 1/49 Gerrale Street, Cronulla

Hours:
Tue to Thu 5pm–9pm
Fri midday–3pm, 5pm–10pm
Sat & Sun midday–10pm

hurricanesgrillandbar.com.au
@hurricanesgrillandbar

Adblock test (Why?)

Now Open: Hurricane's Cronulla Has a Focus on Local Seafood and a Mediterranean-Style Fit-Out - Broadsheet
Read More

World-first clean energy deal taps deep local knowledge - The West Australian

Marion RaeAAP

Plans are afoot to build Australia's largest solar farm beside a hydrogen plant near Lake Argyle. (PR HANDOUT IMAGE PHOTO) Credit: AAP

Kununurra-born Lawford Benning says Aboriginal clean energy is about celebrating beautiful country without hurting it.

He is a key voice in a $3 billion proposal to produce hydrogen and ammonia in Western Australia's majestic East Kimberley from abundant sunshine and an existing reservoir of fresh water.

Under the plan, Australia's largest solar farm would be built beside a hydrogen plant on country near the town of Kununurra, close to Lake Argyle.

Part of the Ord River irrigation scheme that dates back to the 1960s, the lake - Australia's second-largest containing fresh water and WA's largest such reservoir - could become a crucial source for water-intensive green hydrogen production.

"We're not always opposed to development, just the right type of project," Trisha Birch of Indigenous organisation Balangarra Ventures says.

"This is our choice. For once, it's about choice."

Mr Benning, executive chair at Yawoorroong Miriuwung Gajerrong Yirrgeb Noong Dawang Aboriginal Corporation, or MG Corporation for short, says there is power in determining how and where their products are showcased.

In the past, they have rejected the "historic, passive engagement model" of receiving royalties in return for relinquishing control of the land, he says.

This project makes native title holders active shareholders, changing the way corporate Australia and billionaire landowners have previously worked with Indigenous communities.

The new partnership combines the deep knowledge of Balangarra Ventures, MG Corporation and the Kimberley Land Council with the expertise of leading climate change investment and advisory firm Pollination.

Under the banner of the Aboriginal Clean Energy (ACE) Partnership, the new company gives the four organisations equal 25 per cent shares.

Cissy Gore-Birch, CEO of Balangarra Aboriginal Corporation, says the suite of skills required to deliver the ambitious project on traditional lands exists only within the consortium, with people working together.

The proponents believe it could be a model replicated throughout Australia and the world, working with Aboriginal people.

"The way this project is being done, the equitable approach and the ethics involved, are very important to me and very important to Pollination," says project director Erica Lampropoulos.

Solar energy along with power from an existing hydro plant would be combined with fresh water to produce green hydrogen piped to Balanggarra country around Wyndham and converted to green ammonia.

Ammonia is a feedstock for industry, including the production of fertiliser for agriculture, which needs ways to be produced with fewer emissions.

Helping to decarbonise global food production, the ammonia would be used locally and exported through the Wyndham port to future customers in Asia and Europe.

The partners say their approach reduces risk and development time, with shareholders involved in genuine co-design and decision-making for speedier heritage, native title, environmental and engineering approval.

The co-owners also have an opportunity to influence a $2 billion federal program that will back two or three major green hydrogen projects.

Consultation on Hydrogen Headstart is still open, so final guidelines and specifications of the design on what would and would not qualify are yet to be decided.

Stage one of the ACE project would be the construction of a 900 megawatt solar farm on 2000 hectares and a 50,000 tonne per annum hydrogen production facility.

Using clean energy, the process of electrolysis will extract green hydrogen from fresh water sourced from Lake Argyle, which would be transported to Balanggara country in Wyndham through a 120km pipeline.

The project will connect to the Ord Hydro plant and electricity transmission network - a rare asset in remote WA - and use existing roads and airport facilities for production and distribution.

Hydro generation would power the ammonia production plant in Wyndham, producing about 250,000 tonnes per year to be used by the mining industry and agriculture as well as international customers.

The partners say this would be Australia's first and only 100 per cent renewable green hydrogen and ammonia operation.

Indigenous ranger Anthony Johnson would like to see this type of project for his community,

"It will change Wyndham ... giving them a future, changing their lives," he says.

A recent Melbourne and Queensland University net-zero Australia report found at least 45 per cent of the renewable energy needed to decarbonise the domestic and export energy supply will be on land subject to native title.

"We've seen the impacts of what the dirty energy revolution has done, not only to our own country but more broadly to the world," Tyronne Gartsone, CEO of the Kimberley Land Council says.

"The clean energy movement is aligned to traditional owners' values and core responsibilities to looking after country."

Pending the completion of feasibility studies and capital raising, construction could begin as early as 2025 with first production by the end of 2028.

Get the latest news from thewest.com.au in your inbox.

Sign up for our emails

Adblock test (Why?)

World-first clean energy deal taps deep local knowledge - The West Australian
Read More