Dennis Bastas, the billionaire behind a generic pharmaceuticals empire, is preparing to mark his 60th birthday with an extravagant celebration in the Aegean Sea this September. The Melbourne-based businessman, whose fortune was valued at $5.4 billion in this year’s Richest 250 list, will host a three-night event overseen by his wife, Gina Bastas. The occasion is expected to be one of the most lavish gatherings among Melbourne’s wealthy social circles in recent years, drawing comparisons to Lindsay Fox’s large-scale 80th birthday party in 2016.

Bastas’s financial standing was publicly underscored earlier this year when he and his wife paid $124 million in cash for the Toorak mansion known as Coonac, previously owned by Paul Little. This transaction set a record as Victoria’s most expensive residential property sale and ranks as the second-highest in Australia. The highest property sale remains the $141.5 million paid by Yan Zhang for a luxury penthouse in Sydney’s Barangaroo district.

In a separate development, Sydney’s north shore parents have expressed frustration and concern following Guardian Early Learning Group’s abrupt closure announcements for several childcare centres. On June 30, parents of children enrolled at Guardian’s Roseville centre were notified via email that the facility would cease operations within five weeks, a move simultaneously communicated to staff. Similar notices have been issued to families at Guardian’s Cherrybrook centre and to educators there.

The Guardian centres in Torquay, Victoria, are also in the process of closing, while parents at the Marsfield and Macquarie Park sites, both on the north shore, have been given more extended notice periods.

Guardian operates nearly 180 centres across Australia and is owned by the Swiss private equity firm Partners Group. Industry observers suggest these closures are part of a strategic portfolio adjustment ahead of a potential sale. In July 2024, financial media reported that Partners Group was in discussions to sell Guardian for roughly $1 billion—more than double the $440 million paid in 2016. Pacific Equity Partners, a local private equity group, reportedly considered a bid but has since refrained from further involvement.

Guardian’s Chief Executive, Warren Bright, acknowledged that centre closures are “part and parcel” of managing a network and emphasized the company’s commitment to maintaining quality service. Martin Scott, head of Partners Group’s Australian operations, confirmed that while the organisation is proud of Guardian’s performance over the past decade, the possibility of transferring ownership in the future remains open but undecided.

Scott stressed the need for continual portfolio reviews to ensure offerings remain relevant to the communities served, framing such decisions as standard business practice. Meanwhile, affected parents have been urged to remain vigilant about their local centres’ financial health to avoid unexpected closures similar to those experienced at Roseville.