Blackstone-backed LaTrobe Financial eyes $2 bln IPO

Booming non-bank lender and credit manager LaTrobe Financial will consider a trade sale or IPO that could value that business at more than $2 billion, as investor interest in the non-bank sector surges.

US investment giant Blackstone owns 80 per cent of LaTrobe, with the balance held by chief executive Greg O’Neill, whose family started the business in regional Victoria in 1952.

La Trobe Financial is Australia’s leading non-bank, providing funding and investment solutions to a diverse range of customers since 1952. They are 80% owned by Blackstone, the world’s largest alternative asset manager, with over $564 billion of Funds under Management worldwide. They are a proven and trusted investment partner for institutional and retail investors alike with over 65 years’ experience, managing investment mandates of $26 billion.

Source: AFR