Babcock & Brown
Babcock & Brown LP was a global investment and advisory firm, established in 1977, based in Sydney, Australia, that went into liquidation in 2009.
| Company type | N/A |
|---|---|
Traded as | ASX: BNB |
| Industry |
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| Founded | 1977 |
| Defunct | 24 August 2009 |
| Fate | Liquidation |
| Headquarters | Sydney, Australia (formerly San Francisco) |
Key people | |
| Products |
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| Revenue | A$1.29 billion (2006) |
Number of employees | 1,000 |
| Website | n/a |
Babcock & Brown Securities LLC is an active investment banking firm focused on equipment and project financing such as aircraft, rail, marine and infrastructure and is based in Greenwich, CT, USA. It is unrelated to Babcock & Brown LP.
Babcock & Brown LP was best known in financial markets for structured finance deals. The company had at its peak 28 offices and over 1,500 employees worldwide. Although headquartered in Sydney, it had a significant presence in Europe and the United States. The creditors of Babcock & Brown LP voted to place the company into liquidation on 24 August 2009.
At the end of 2008 Babcock & Brown LP had a market capitalisation of just over $8.5 billion, and in 2007 its market capitalisation peaked at above $9.1 billion (A$33.90 per share). However, by October 2008 the share price had collapsed by 95% to A$1.30 and by December 2008 by 99.6% to A$0.14, representing a market capitalisation of less than $50 million. On 13 March 2009 the company was placed into voluntary administration. Approximately 45% of its shares were owned by the executives of the firm.
Nicknamed the "Mini Macquarie", Babcock & Brown LP was a company frequently compared with larger competitor Macquarie Bank.