O’Reilly on prowl for acquisitions

CAMERON O’REILLY is on the prowl for acquisitions and partnerships using his new private company, Bayard Capital.

Bayard has raised €54 million and is now on the lookout for investment opportunities in Australia and New Zealand.

Set up last year, the company boasts high-profile founding shareholders, including Mr O’Reilly's father, media magnate Sir Tony O’Reilly; Seven Network boss Kerry Stokes; former Lion Nathan chief Douglas Myers; and Rural Press chairman John B. Fairfax.

Representatives of the Jack and Robert Smorgon families, Temasek Holdings and Sears Wiederkehr are also founding shareholders.

Mr O'Reilly, 38, yesterday said Bayard was not in a rush to make acquisitions and would look at a wide range of opportunities. Given his own media background, and that of the major shareholders, media properties will surely come into his sights.

“Obviously, our shareholders have experience in a wide range of industries,” said Mr O’Reilly.

As well as acquisitions, Bayard will consider setting up long-term partnerships with public and private companies or buying divisions that they no longer want. Mr O'Reilly said Bayard was different from other existing private equity operators in that it was "old-fashioned" and wanted to hold on to the assets it bought or partnerships it formed for the long-term: "We are not looking to do start-ups.

“We are really looking at establishing quality businesses,” he said, adding he envisaged a stock market listing for Bayard in about five years.

"Ultimately, we see ourselves as an operating company rather than a collection of little investments.”

Mr O'Reilly set up Bayard about six months ago after returning to Australia from a two-year stint in France where he had worked for various private businesses.

He has taken on the role of managing director while chairman of Allianz Australia, John Curtis, was appointed Bayard's chairman.

Bayard is named after a 15th century French knight, seen as a model of virtue.

Mr O’Reilly is a director of APN, Australia’s seventh-largest media company, and Dublin-based Independent News & Media plc, which has a 45% stake in APN.