Corrs guides L1 Capital merger plans
Corrs Chambers Westgarth has provided legal guidance on L1 Capital's merger with Platinum Asset Management, highlighting the strategic importance of the deal for Australian funds management
Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised First Maven Pty Ltd (L1 Capital) on its proposed merger with Platinum Asset Management Ltd (Platinum). The merger entails the sale of L1 Capital to ASX-listed firm Platinum, with consideration involving the issuance of 74% of Platinum shares to the shareholders of L1 Capital.
Corporate partners Fadi Khoury and Shabarika Ajitkumar, alongside head of corporate Sandy Mak, led the Corrs team, which encompassed a cross-disciplinary group of experts from the firm’s funds and financial services, tax, banking and finance, employment, and competition practices. Khoury commented on the significance of the merger stating “The size and reputation of the groups involved makes this a flagship transaction for the Australian funds management sector in 2025. The merger would create a combined investment platform of listed & unlisted equities and alternative investment strategies with total funds under management of approximately $16.7 billion.”
Both Mak and Ajitkumar emphasised Corrs' stature in the industry, noting “The transaction demonstrates Corrs’ reputation as an Australian law firm of choice for complex transactions in the financial services sector.” This merger represents a significant development in the evolving landscape of Australian finance and investment management, showcasing the strategic alliances forming within the sector.