Equity Trustees to acquire Platinum Investment Management

Equity Trustees (EQT Holdings Limited) has entered into a conditional agreement to acquire all issued shares of Platinum Investment Management Limited (PIML) from L1 Group Limited for nominal consideration.

PIML serves as the responsible entity for various listed and unlisted managed funds, including the Platinum International Fund Complex ETF (PIXX) and the Platinum Asia Fund Complex ETF (PAXX). Following the acquisition, PIML will become part of the EQT Group. It will initially remain the responsible entity for the relevant funds before transitioning that role to another licensed EQT entity, pending regulatory approval.

The sale is part of the ongoing integration following the merger of Platinum Asset Management and L1 Capital. While the responsible entity role will change, investment management arrangements will continue with the relevant L1 Group investment managers. EQT Managing Director and CEO Mick O’Brien stated that the transaction reinforces EQT’s position as a leading responsible entity provider in Australia.