Allens is advising Platinum Asset Management on its proposed merger with L1 Capital to create a market-leading investment platform with a combined $16.5 billion in assets under management.
The merger will see Platinum acquire L1 Capital in exchange for issuing new ordinary shares to L1 Capital's existing shareholders. Following completion of the transaction, L1 Capital's existing shareholders will hold 74% of the merged group, and Platinum's shareholders will hold 26% of the merged group.
Led by M&A partners Guy Alexander and Julian Donnan, the Allens team advising on the transaction included experts from the firm's M&A, funds and financial services, tax, banking and finance, employment and competition practices.
The proposed merger is subject to a number of customary conditions, including approval by Platinum's existing shareholders, and is scheduled to complete in September 2025.
The transaction builds on Allens' strong track record in the asset management sector, including previously advising VGI Partners on its merger with Regal Funds Management.
