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La Trobe Financial sold to Brookfield for $1.5bn
Allens Linklaters advised leading global investment firm Blackstone on the sale of La Trobe Financial to Brookfield, valued at $1.5 billion.
Adrian Suljanovic
Firm: Allens Linklaters (Blackstone)
Value: $1.5 billion
Area: M&A
Key players: The Allens’ legal team was led by partners Vijay Cugati and Emin Altiparmak, with assistance from senior associate Joshua Hoare, associates Andrew Lee and Will Brown and lawyer Rachael Short.
Deal significance: La Trobe Financial plays a crucial role in the Australian real estate credit market by financing loans to high-quality borrowers.
La Trobe Financial manages more than $13 billion in assets as one of Australia’s leading non-bank lenders and asset managers. The firm works on behalf of approximately 50,000 qualified retail investors by managing their fixed-income credit funds (mainly in residential property-backed loans).
Emin Altiparmak, partner and private capital sector leader, said on the transaction: “We are delighted to have supported Blackstone and Greg on this significant divestment. La Trobe Financial has seen remarkable growth under Blackstone’s ownership and we look forward to seeing this continue with Brookfield.”
Partner Vijay Cugati congratulated Blackstone and former chief executive Greg O’Neill OAM on a “successful exit”.
“The transaction between two of the world’s leading investment firms reaffirms the significant investor demand in Australia’s non-bank lending sector and follows the listings of three other major non-bank lenders in the last 18 months,” Mr Cugati said.
