G+T advised the Mandated Lead Arrangers, Underwriters and Bookrunners (MLAUBs) in relation to c.A$507 million corporate debt facilities for Perpetual Limited (Perpetual). The facilities provide certain funds commitments in relation to Perpetual’s acquisition of a 75 per cent stake in US-based asset manager Barrow, Hanley, Mewhinney & Strauss.
The acquisition is expected to see Perpetual triple its funds under management.
The G+T team was led by Banking + Infrastructure partner Robert Trowbridge, supported by lawyers James Frixou, Donovan Brown, Angus McWhirter and graduate Stephen Powell. Skadden, Arps, Slate, Meagher & Flom LLP acted as US legal counsel to the MLAUBs.
Robert Trowbridge and James Frixou said, “We are proud to have been involved in such a transformative transaction for Perpetual and delivering for our clients, and Perpetual, within a very tight timeline.”
This deal underpins G+T’s position as a leader advising on the most complex cross-border transactions in Australia and Asia Pacific. G+T’s deal team proved that such financings can be run seamlessly across jurisdictions, providing value and efficiency for corporates aiming to reduce the amount of lead time required for execution.
Gilbert + Tobin’s Banking + Infrastructure team is recognised in the leading legal directories, including most recently being ranked at Band 1 for Banking and Finance – Acquisition Finance by Chambers Asia-Pacific 2020 and Tier 1 for Banking + Finance and Restructuring + Insolvency by Legal 500. In the IFLR1000 Specialists Guide 2019, G+T are recognised for work in Unitranche financings, the only Australian firm to be recognised. G+T has significant experience advising leading Australian and international financial institutions, investment banks, corporations and private equity funds. We act for lenders, borrowers, sponsors and consortia on a range of issues from high-value corporate transactions to complex restructuring projects.