Private Equity

Godzilla Vs Kong As Private Equity Titans Battle It Out For Packer’s Crown

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Both Blackstone and Oaktree Capital Management are attempting to capitalise on the billionaire casino mogul’s position as a stranded-owner. : US private equity giant Oaktree Capital Management has proposed a $3 billion deal that will deliver it de facto control of Crown, avoid the probity net, and remove James Packer as a 37 per cent shareholder. It’s audacious, it seems clever and it certainly has the flavour of a payback It might not fly but at least Packer now has two US private equity giants attempting to cash in on his wounded-shareholder status.

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