Airlie Funds Management (Airlie) is a specialist Australian equities fund manager with over A$6 billion of funds under management.
Magellan Financial Group (Magellan) is a specialist funds management business listed on the ASX with a market capitalisation of approximately $4.5 billion. Magellan manages approximately $59 billion of funds under management across its global equities and global listed infrastructure strategies for retail, high net worth and institutional investors.
Portfolio manager John Sevior and David Cooper founded Airlie in 2012, with Matt Williams joining in 2016. Airlie manages funds primarily for institutional and high net wealth clients.
The Airlie acquisition will diversify and strengthen Magellan's retail funds management business in Australia, with Airlie set to offer retail targeted products for the first time.
Airlie will continue to operate under the Airlie brand providing Australian equities capabilities to its clients.
In the months ahead, Airlie and Magellan intend to launch the Airlie Industrial Share Fund. The Airlie Industrial Share Fund is expected to be structured as an actively managed exchange-traded fund listed on the ASX and is anticipated to leverage Airlie’s pre-eminent expertise in Australian equities and Magellan’s operational expertise and distribution strength in the retail and adviser market.
MinterEllison partner Con Boulougouris and senior associate Nick Kipriotis led the team advising Airlie.
They were supported by partners James Momsen and Kristy Edser, and lawyers Jo Sarolis, Daniel Shaw and Don Ngyuen.
Completion of the transaction is expected to occur on 28 February 2018.