King & Wood Mallesons has assisted leading ethical investment manager Australian Ethical to grow its funds under management (FUM) through its acquisition from Australian Unity of the Altius Asset Management (Altius) business.
When completed, the significant acquisition will see Australian Ethical grow its FUM by approximately 19% - from $10.3 billion to around $12.3 billion.
Australian Ethical and Altius’ combined fixed income capability will create a sustainable fixed income investment team of seven, provide an expanded and diversified bond fund portfolio, and position Australian Unity as one of Australian Ethical’s largest institutional clients.
As Australian Ethical’s legal advisor, KWM were responsible for advising on and assisting to negotiate the transaction documents.
The core KWM team consisted of Partners Nathan Hodge and Mark Vanderneut and Consultant Glenda Hanson.
Commenting on the transaction, Nathan Hodge said:
“We are proud to assist Australian Ethical on this 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.”
