Hastings is an infrastructure-assets business with funds under management of approximately $14.3 billion from more than 75 institutional investors. The businesses manage a portfolio of infrastructure debt and equity assets across the US, UK, Europe and Australia for a number of leading global institutional investors.

Northill is an independent, privately held asset management business, established in London in 2010. Its combined assets under management, in which Northill owns a majority interest, total approximately $30 billion (as of 31 December 2015).

MinterEllison advised on all Australian legal aspects of the transaction including the acquisition documents, financial services regulatory advice and the complex separation and multiple reciprocal transitional arrangements between the parties.

"This is Northill's first deal in Australia, and the MinterEllison team worked very closely with Northill to provide strategic solutions throughout the transaction, in particular, regarding transaction structuring and mid-transaction changes in structure," said Mr Cahill. "The matter involved a multi-jurisdictional team that worked collaboratively across multiple time zones with legal, financial and tax advisers to achieve the best outcome for our client."

Leveraging MinterEllison's broad capabilities, the firm was able to advise Northill across all legal areas, including regulatory, corporate, employment and tax. The acquisition also required MinterEllison to address complex licencing and FIRB matters.

"Our 'one firm' offering meant we were able to present a market leading team that could move fast and cost efficiently for Northill," said Mr Cahill. "We are very pleased to have advised Northill on this acquisition, which will expand their capabilities."

"This transaction presents an exciting opportunity for Northill to further develop Hastings' international business and add to its stable of quality global managers."

Northill will be investing over the long term to develop Hastings’ international businesses from their position as a top 40 global infrastructure specialist.

The MinterEllison team was led by Nathan Cahill (Partner). He was supported by fellow MinterEllison Partners Ricky Casali, Gordon Williams, David Moore, James Momsen, Stewart Robertson, and by Michael Scarf (Senior Associate), Michael Mellon (Senior Associate), Mellissa Lai (Senior Associate) and Sophia Bai.