Leading Australian law firm Gilbert + Tobin has advised National Employment Savings Trust (Nest) on its acquisition of a 10% ownership stake in global investment manager IFM Investors. This strategic partnership will support Nest’s ambition to diversify and increase its allocations to private market assets and will see Nest invest in IFM’s significant infrastructure, debt, and private equity capabilities.
IFM Investors is one of Australia’s largest fund managers, and following the transaction Nest, the trustee of the largest pension scheme in the UK, will join the 16 Australian superannuation funds who ultimately own IFM.
Gilbert + Tobin worked closely to advise Nest alongside leading UK firm Travers Smith, led by Victoria Bramall. The G+T team was led by Executive Partner and Head of Corporate Advisory Tim Gordon and Corporate Advisory Partner Wes Bainbridge, supported by lawyers Sarah Findley and Samuel Buswell.
Reflecting on the transaction, Executive Partner Tim Gordon said:
This is a genuinely significant transaction in the superannuation, private capital and infrastructure space. It reflects the significant success of IFM, the success of Australian super sector generally and Nest’s commitment to access the best private markets investment opportunities for its millions of members.
G+T has a long standing focus on private capital and superannuation, so it was fantastic to work on a landmark transaction at the intersection of those themes and particularly where it is a partnership between two organisations with a shared purpose to protect and grow the long-term retirement savings of working people.
Gilbert + Tobin’s market-leading Private Capital team brings extensive experience in advising both global and domestic sponsors and superannuation funds across the entire investment lifecycle. We are thrilled to have been awarded the 2024 Mergermarket M&A Private Equity Legal Adviser of the Year, our second consecutive win. Additionally, Gilbert + Tobin is one of only two Australian law firms to hold a Band 1 ranking across Private Equity, Corporate/M&A, Equity Capital Markets, Competition + Antitrust, and Banking + Finance by Chambers, the premier global law firm ranking entity. This recognition underscores the strength and depth of our multi-disciplinary private capital practice.
