Sharkey's been heavily involved in raising billions of dollars for banks, governments and Australian corporates. The nation’s newest investment bank, Barrenjoey Capital Partners, looks set to make a string of new hires over the coming months lured by the offer of equity in the firm and the backing of funds management powerhouse Magellan Financial Group and British banking giant Barclays, which have seeded it with more than $200m of capital. With Barrenjoey’s ambitions in the domestic market and our focus on cross-border business, we see this as a compelling strategic investment. Barrenjoey boss and Bankers Trust alumnus Brian Benari says the newest investment bank on the block will succeed because of its throwback ownership model. Barrenjoey Capital will operate as a full-service investment bank, incorporating corporate and strategic advisory, equity and debt capital market underwritings, cash equities, research, prime brokerage as well as traditional fixed income services to Australian and international clients. Magellan’s investment in Barrenjoey will form part of Magellan’s Principal Investments business. | Barrenjoey is an Australian based full service financial services firm. "Should Barrenjoey not gain the required level of traction across the Australian client base within 18 to 24 months, success without further investment will likely be hard to come by.". Barclays Plc chief executive Jes Staley is personally committed to the success of Australia's newest investment bank, Barrenjoey Capital Partners. UK-based investment bank Barclays has agreed to be a foundation investor in Barrenjoey Capital Partners, a new Australia-based full-service financial services firm. Barclays, as the other co-investor, will have a 9.99 per cent ownership stake (and 4.99 per cent voting interest) and Barrenjoey staff will represent the majority 50.01 per cent ownership stake. "This represents a very small part of our capital, it's a principal investment in our principal investment book and importantly we're not running it," Mr Cairns said. A series of advertisements has been halted after Sourav Ganguly, the Indian cricket icon endorsing the product, suffered a heart attack. Magellan Financial Group's move to become a founding shareholder of new investment bank Barrenjoey Capital gives the fund manager "great optionality" at a low price, according to the boss of the $100 billion global investor, Brett Cairns. An investment banking-style joint venture will ensue, with Magellan Financial putting up $90m in cash and 1.2m in shares for a 40% economic interest. Magellan also provides $50 million in working capital. Barclays Bank president Paul Compton said: “We see Australia as an attractive and important financial services market. It was a productive long weekend for Barrenjoey Capital! However, Magellan's duo have been critical in bringing Barrenjoey to life, as Mr Cairns explained. "For a foundation business that will likely incur significant upfront costs in order to achieve scale this investment clearly comes with a high degree of risk and uncertainty," broker Macquarie said, finding Barrenjoey is worth an implied $396 million. Magellan Financial Group ((MFG)) is expanding its options with a strategic investment in a new Australian financial services business, Barrenjoey Capital Partners. The Democrats' lead is growing in the other race, which is still too close to call. Sources said Barrenjoey had also picked up UBS debt capital markets head Barry Sharkey, who was one of a select handful of UBS bankers that Matthew Grounds and Guy Fowler had included in the infamous "Kangaroo deal" almost a decade ago. 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