Allens has advised Axight – an Abu Dhabi‑based private equity investment manager focusing on investing across the Asia-Pacific region – on its acquisition of a significant minority stake in La Trobe Financial Group from Brookfield Asset Management, valuing the business at approximately $3 billion.
Axight was established by Lunate, a global investment firm with over US$115 billion in AUM. The transaction (subject to customary regulatory approvals) marks Axight’s first investment in the Australian market and represents a significant investment in one of Australia’s leading asset managers.
Allens advised Axight on all aspects of the acquisition, including legal due diligence, transaction documentation and regulatory approvals.
‘This transaction reflects strong private capital interest in established Australian platforms, underpinned by strong fundamentals and supporting their next phase of growth,' said lead partner Jessica Choong.
‘We are delighted to support Axight on its entry into the Australian market.' said partner Vijay Cugati.
Allens is a leading adviser to global sponsors and institutional investors on complex acquisitions and strategic investments. The transaction is part of broader deal activity across the Australian financial services sector, with investors continuing to pursue investments in asset managers, wealth platforms and insurers.
Allens legal team
M&A and Capital Markets
Vijay Cugati (Partner), Jessica Choong (Partner), Gadi Bloch (Counsel), Vincent Pang (Managing Associate), William Brown (Senior Associate), Isabella Watkins (Associate), Nathan Shannan (Lawyer)
Financial Services
Simun Soljo (Partner), Llon Riley (Partner), Gabor Papdi (Senior Associate), Mathew Newell (Senior Associate)
Finance
Renee Boundy (Partner), Vanessa Ly (Associate)
Competition, Consumer & Regulatory
Jacqueline Downes (Partner), Edison Wang (Senior Associate), Srishti Metha (Lawyer)
FIRB
Jessica Choong (Partner), Wendy Rae (Partner)
Tax
Craig Milner (Partner)