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Australian investment firm Babcock & Brown Ltd. said on Monday that a media report speculating on its involvement in a bid valuing energy infrastructure group Alinta Ltd. at A$9 billion was unfounded.
Bloomberg reported that Singapore Power planned to join with Babcock & Brown to launch the bid for Alinta, already the subject of a management buyout proposal.
Alinta shares jumped 4.5% to close at A$14.75 after earlier hitting a record A$15.20.
Interesting ... anyone why this rose so rapidly in one session?
a lot of trading at $1.09
today this counter rose to 1.09!!
One of the fund's target sectors is "alternative assets", such as biofuels and song copyrights.
Such funds give people a chance to invest in assets that are usually not listed.
The fund has invested its $394.3m initial portfolio equally in 3 sectors. The first is operating leases, including those of 2 Boeing 757-200 jets it owns and which expire in 2013. A stake in American railcars is also included.
The 2nd sector is property assets and loans. The 3rd sector "alternative assets", mostly comprises biofuel investments but the fund plans to get "significant exposure" to the music copyright industry as well.
The fund will target "mature" compositions which still resonate with music fans along long after they dropped off the pop charts.
Publishers such as EMI and Sony dominate the music publishing market, although there are many independent publishers and copyright owners. They earn revenue if the music is issued on CD, used as a mobile phone ring tone or featured in advertisements.