Summer Beach Spotlight: Archer Capital's acquisitive Palm Beach weekender buy-up
Peta Minton, wife of the equity firm Archer Capital managing director Greg Minton, has spent $4.76 million at
It’s a 1917 house – last sold 40 years ago – with sandstone basement and shingle-clad upper level with polished floors, three-metre-high ceilings and a sandstone open fireplace. All very much a throwback to the pioneering days when
Quite possibly the lower strip of Palm Beach Road will in future become known as Archer Capital Slopes, as the Minton’s near neighbour is Peter Wiggs, another managing director at Archer Capital. Wiggs and his wife, Electra, paid $4.5 million to secure Awarua in 2007. Wiggs, one of the longest-serving executives in the Australian private equity industry, having previously been at Rothschild
Awarua, a 1930s weekender that sits on an 873-square-metre block, previously traded in 1960 when it was bought by Edeline Jenkyn, wife of
The Mintons’ recently purchased property is listed on the Pittwater Local Environment Plan given its heritage significance, but extensions are possible given council approval. It was sold by the Boden family through LJ Hooker Palm Beach agents David Edwards and Amethyst McKee, who had marketed the property with $4.5 million-plus hopes.
Before joining Archer Capital in 2000, Greg Minton spent six years in management roles with CSR Limited including CSR Humes, the manufacturer of precast concrete products. Archer Capital, with $2 billion in funds under management or advice, has notched up over 30 acquisitions in leveraged buyouts since 1996 involving total aggregate funding of $5 billion. But the directors have some way before catching up to catch up with the long-acquisitive merchant banking types from Macquarie Bank et al.
In some years over the past three decades there have been $100 million plus in acquisitions by banking types as enriched old-timers depart the pricey peninsula. At
A property called Tehongi, on
Nick Whitlam, when of the merchant bank Whitlam Turnbull, jokingly called his former