GMP Capital's month-old expansion to Australia is paying dividends as the investment banking firm is now working on a financing and an acquisition down under.
GMP is the underwriter for an $85-million (Australian) fundraising by civil engineering firm Decmil Group Limited. Decmil is using the money to buy half of a trust that's building a resort village, and GMP's bankers are advising on that transaction.
Here at home, GMP has also been busy.
Even though the mining and energy business has been quiet, GMP has been active advising on financial industry transactions.
Industry sources say the firm advised on the sale this week by Ally Financial Inc. of its Canadian mortgage operations to MCAP. Ally, which operates as ResMor in the Canadian mortgage business, is looking to repatriate capital so it put the business up for auction.