21 Sep Barrenjoey celebrates one year since its launch
It’s one year since Barrenjoey Capital Partners (Barrenjoey) officially launched with the capital and funding from its foundation investors and strategic partners, Magellan and Barclays.
From its very first employee in October 2019, Barrenjoey has grown to a team of around 300 recruited from over 80 organisations with offices in Sydney, Melbourne and Perth.
Barrenjoey CEO, Brian Benari, says: “Although we’re celebrating one year today, the work really began over two years ago when our early founding partners identified an opportunity to create a different kind of business that would be majority staff-owned and locally-managed.”
Benari adds: “Since then, we’ve been focused on building a full-service financial services firm that will deliver outstanding outcomes to our clients. We’re really proud of what we’ve been able to achieve already – most of our businesses are operational and the remainder will come online over the coming months. That position is testament to the trust and support of our clients, the vendors we’ve partnered with and our first-class team.”
- Corporate Finance – Strategic Advisory, M&A, Capital Markets, Financing
- Equities – Cash Equities, Sales Trading and Execution, Corporate Access
- Fixed Income – Futures Trading
- Research – Over 30 stocks under coverage so far
- Fixed Income Bonds, Repos and Derivatives
- Equity Financing and Derivatives
- Research targeting 200 stocks under coverage by the end of 2022
Barclays has made significant balance sheet available to support Barrenjoey with its client activities and in May the two worked on their first mandate together as partners; Barrenjoey acted as Sole Adviser to Seven Group on its A$8.5bn takeover offer for Boral, while Barclays provide the acquisition financing.
“Australia is a strategically important market for Barclays’ Corporate and Investment Bank, and we’re deeply committed to growing our presence in the country through our Barrenjoey partnership,” says Paul Compton, Global Head of Investment Banking, and Co-President of BBPLC. “Over the past year, we’ve worked with the Barrenjoey team to grow our client relationships and expand our capabilities to offer a full suite of investment banking products.”
Magellan CEO, Brett Cairns, adds: “We are extremely pleased with the progress Barrenjoey has made as it establishes itself. What has been achieved to date is very impressive and even though a number of businesses are yet to come online, there is clear momentum and revenue generation potential for the coming year. Overall the business is developing ahead of expectations.”
Reflecting on the last 12 months, Benari says: “It’s been a huge year of firsts and we’ve been delighted with how we’ve been able to support our clients and how they’ve supported us. It’s just the beginning, so we’re all excited about what’s ahead.”
A Year of Firsts – click here to see what’s been keeping Barrenjoey busy this past year.