Packer now has two large nautical playthings, the Mangusta and the 270 ft Arctic P, the ice strengthened oil platform supply vessel that was converted to a private cruiser by his father, the late Kerry Packer. The smaller boat is now expected to sold on the Australian or Asian markets rather than being shipped back to Europe. While he was waiting for the $50 million yacht to be launched, Packer was given a Mangusta 107 by the building company to keep him happy. Named Z-Ellerston after Packer's Hunter Valley property and his world-class polo team, the 165 foot yacht is driven by three, 4446hp engines that give it a top speed of 37 knots. The yacht is expected to be permanently based Sydney but will probably be seen up and down the east coast with the changing seasons. The yacht, the largest open-style motor yacht in the world, was spotted heading out of Newcastle this week after being recommissioned following its voyage as deck cargo on a freighter from Europe. But piecing together known facts (and assumptions about money invested in Calendonia funds) Gretel Packer's Forbes listing at $US2 billion worth could be quite conservative.Ī spokesman for Gretel Packer declined to comment.Casino magnate James Packer bought the second Mangusta 165 to come out of the Italian shipyard last year and now, after a summer cruising the smartest ports in the Med, the giant open yacht has reached Australia. Given the private nature of Gretel's financial position, this analysis is not comprehensive. If one takes into account Caledonia’s flagship hedge fund and its co-investments, the fund is up 42 per cent this year to the end of October. His counterpart on James Packer’s side was Matthew Grounds - the then head of investment bank UBS.Ĭaledonia funds have ridden some periods of extreme volatility but over five years performance has come in at around 16 per cent compound per annum. Caledonia’s chief investment office, Will Vicars (himself a billionaire), took the role of Gretel's negotiator during the split of the estate. All up the package was said to be worth a bit more than $1 billion at the time of the settlement.Ī decent portion of the cash and the proceeds of Gretel’s Crown shares has reportedly been invested with funds manager Caledonia Investments. In addition to the Crown and Zillow shares, Gretel ultimately ended up with 100 per cent of the family’s rural estate Ellerston (valued at the time at about $120 million), full ownership of the Packer boat the Artic P and cash of several hundred million dollars. Sources familiar with Gretel Packer’s financials say she sold the Crown stake years ago - well above the price at which they currently trade.įive years ago the Packer split of the estate was referred to as an acrimonious affair with James Packer said to have been unhappy with the outcome. This company, of which Gretel Packer was the sole director, can no longer be found on the Crown list of major shareholders. She held the shares through a private company RPSCO Pty Ltd. Meanwhile part of Gretel Packer’s financial settlement was a $100 million parcel (about 8.6 million) Crown Resorts shares - which can be gleaned from ASX substantial shareholder announcements. Gretel Packer seems to have done well out of her investment in Zillow.
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