Harry Brumpton

(Bloomberg) -- Australian wealth manager Insignia Financial Ltd. has received a A$2.9 billion ($1.8 billion) takeover offer from CC Capital Partners, the fast-emerging family office set up by former Blackstone Inc. dealmaker Chinh Chu.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYC Congestion Pricing to Take Effect After Years of DelaysNYC Congestion Pricing Takes Effect After Years of DelaysNYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueNYC Congesti

A 33-year-old piece of legislation in Australia is helping to spark fresh interest from private equity firms including KKR & Co. and Bain Capital as they seek to tap into one of the world’s fastest-growing money management industries.

(Bloomberg) -- A 33-year-old piece of legislation in Australia is helping to spark fresh interest from private equity firms including KKR & Co. and Bain Capital as they seek to tap into one of the world's fastest-growing money management industries.

Bain Capital sweetened its bid for Insignia Financial Ltd. as takeover activity heats up for the Australian wealth manager.

Macquarie Group Ltd. has hired a new managing director as part of a push in Southeast Asia for the firm’s investing arm.

Goldman Sachs Group Inc.’s head of equity capital markets in Australia has resigned after about a decade with the US bank, according to a person familiar with the matter.

Australia’s largest lender Commonwealth Bank of Australia joined Mastercard Inc. and the country’s government in pushing to scrap fees for debit and credit card payments.

Good morning, it's Harry here in Sydney with the news to start your week.Today’s must-reads:• Pacific countries risk getting left behind on sustainable flying• Anxious retirees aren't spending their pensions• Western Australia mining ports face possible category 3 cyclone

Insignia Financial Ltd. gave CC Capital Partners access to some of its accounts for a limited time as it attempts to lure the US firm into a higher offer for the Australian wealth manager.

Australia’s corporate regulator is investigating allegations that ANZ Group Holdings Ltd. miscalculated interest on thousands of customer savings accounts, the Australian reported.