The deal grows Australian Ethical’s FUM to ~$12bn
King & Wood Mallesons (KWM) has helped ethical investment manager Australian Ethical to acquire Altius Asset Management.
Through the deal, Australian Ethical increases its funds under management (FUM) by around 19%, from $10.3bn to roughly $12bn. The combined fixed income capabilities of Australian Ethical and Altius will generate a seven-strong sustainable fixed income investment team and create an expanded and diversified bond fund portfolio.
Moreover, Altius Asset Management’s former owner, Australian Unity, will be in position to become one of Australian Ethical's biggest institutional clients. KWM partner Nathan Hodge described the transaction as a milestone acquisition that “will enable the business to scale and broaden its investment capability consistent with its strategy and ethical charter”.
“The Altius acquisition reflects the growth in demand for sustainable investments. We trust that the transaction will provide enormous opportunity for both Australian Ethical and Australian Unity, and for their combined stakeholders and clients”, he said.
The KWM team provided legal advice and assisted in negotiating the transaction documents. In addition to Hodge, the core team included partner Mark Vanderneut and consultant Glenda Hanson.
