Babcock & Brown

Babcock & Brown LP was founded in 1977 by James Babcock and George Brown in San Francisco, US. It largely operated as a corporate advisory firm focused on leasing of aircraft and other equipment until the early 1990s. Babcock & Brown LP opened a Sydney office in 1982 and entered the real estate market there, at that time enjoying considerable success. Jim Babcock resigned from the board of directors on 1 November 2008 citing personal reasons.

The company's focus from advisory work to investment management continued until a German bank Bayerische Hypo- und Vereinsbank invested US$120 million in return for a 20% stake. It used those funds and third-party funds they raised from clients to invest directly in a wide variety of investments, as both co-investor and principal.

In 1997, Babcock & Brown acquired the investment banking, advisory, equity and structured finance assets of AIDC Ltd from the Australian government.

In August 2006 managed fund, Babcock & Brown Capital, announced that it had completed a 65% acquisition of Irish telecommunications company Eircom, with its partner the Eircom Employee Share Ownership Trust Limited (ESOT) holding the remaining 35% of Eircom Group.

In March 2007 Babcock & Brown LP led a consortium to attempt to buy the Australian energy company Alinta Ltd. The takeover by a scheme of arrangement was supported by the Alinta Board.

In the Irish Independent newspaper it was reported that Babcock & Brown LP were planning to break up Eircom. Retaining the core backbone Network Wholesale Division and selling the Eircom Retail and Mobile (Meteor) Divisions. It was reported that the retail arm of Eircom could be worth €1bn and Meteor around €800m.