Allens has advised Aware Super on its successful merger with TelstraSuper, creating a combined fund with approximately $237 billion of funds under management.
Aware Super is one of Australia’s largest profit‑to‑member super funds, serving over 1.3 million members. TelstraSuper was the largest of the two remaining corporate superannuation funds in Australia, with more than $26 billion in funds under management.
‘This merger represents a landmark moment in Australia’s superannuation industry. We were delighted to support the Aware Super team in successfully navigating the complexities involved in bringing together two major funds,' said lead partner Stephanie Malon.
'The transaction is a testament to Aware Super’s strategic vision and commitment to delivering scale and value for its members – congratulations to all involved.'
Allens supported Aware Super throughout the transaction, including through a number of novel regulatory aspects and its investments transfer.
This transaction reflects a continuing trend of consolidation in the superannuation industry, which Allens is proud to have supported with specialist expertise over many years.
Allens legal team
Funds, Superannuation & Financial Services
Stephanie Malon (Lead Partner), Sean Cole (Partner), Michael Mathieson (Senior Regulatory Counsel), Katerina Karavatis (Senior Associate), Guy Spielman (Senior Associate), Lincoln Rodgers (Senior Associate), Harmanjot Singh (Senior Associate), Anthea Nolan (Consultant), Jacinta Cox (Senior Associate), Erik Pridgen (Associate), Gabrielle Hurrel (Lawyer), Sneha Mahesh (Lawyer), Vincent Wu (Lawyer), Renee Tierney (Lawyer)
Technology, Media & Telecommunications and Intellectual Property
Elyse Adams (Partner), Haddon Chang (Senior Associate), Nick Li (Senior Associate), Maddison Ryan (Senior Associate), Katie Saliba (Associate)
Competition, Consumer & Regulatory
Fiona Crosbie (Partner), Felicity McMahon (Partner), Marcus Buschel (Senior Associate), Issi Lovric (Consultant)
M&A and Capital Markets
Chris Blane (Partner), Gadi Bloch (Special Counsel)
Disputes & Investigations and Restructuring & Insolvency
Matthew Whittle (Partner), Andrew Maher (Partner), Julia Clemente (Managing Associate), Samira Lindsey (Associate)