The deal was so sought-after that it ended up raising more than twice what was intended
Webb Henderson was the New Zealand legal counsel of L1 Capital on the recent floatation of the L1 Long Short Fund on the ASX.
The deal, which is one of Australia’s largest ever investment fund floats, initially sought to raise up to AU$600m. However, due to demand, L1 released a supplemental prospectus and ended up raising AU$1.35bn.
Sydney corporate law boutique Kardos Scanlan was L1’s Australian counsel. Baker McKenzie acted for National Australia Bank, which was the sole arranger. The global firm was also the legal adviser to joint lead managers Crestone Wealth Management, Morgan Stanley, Morgans Financial, Ord Minnett, Taylor Collison, and Wilsons.
