Boutique acts in major fund manager acquisition

A Sydney-based firm steps up as a French asset manager makes its first Australian acquisition

Boutique acts in major fund manager acquisition
A Sydney-based boutique law firm has advised in a major acquisition of an Australian equity funds manager.

Mark Wilson and Sara Heckoff from W Advisers assisted Investors Mutual Limited (IML) and its founder, Anton Tagliaferro. Natixis has acquired a majority stake in IML, in a deal worth up to $155m in cash, from Pacific Current Group (PAC) and Tagliaferro.

This is the Paris-based asset manager’s first major acquisition in Australia.

The well-known founder of IML sold an 11.9% stake in the company as part of the deal, valuing the equity funds manager at around $300m. PAC sold a 40% stake in IML.

Johnson Winter Slattery advised Natixis while Norton Gledhill advised PAC.

This is the second time the boutique has assisted funds management founders with change of control transactions in major acquisitions. Wilson represented all Kapstream vendors, including the company’s founder, when public US company Janus Capital bought a majority stake in Kapstream in fiscal 2016 and when Janus subsequently acquired all outstanding shares of the company.

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