Baker McKenzie is pleased to announce that it is advising Generation Development Group (GDG) on its AUD 320 million acquisition of Evidentia Group Holdings and associated AUD 288 million equity capital raising.
The acquisition represents a transformative opportunity for GDG to expand its presence in the rapidly growing and highly attractive Managed Accounts market.
GDG’s acquisition of Evidentia and merger with GDG’s Lonsec Investment Solutions business brings together two of the leading and fastest growing managed account providers.
It also provides GDG with the opportunity to realign its businesses to ensure it continues to deliver exceptional performance and enhance its customer propositions. Post the acquisition GDG will operate three distinct businesses; Generation Life, Lonsec Research and Ratings, and Evidentia Group (formed through the merger of the Evidentia and Lonsec Investment Solutions businesses).
GDG Group Executive Grant Hackett said: “The Baker McKenzie team is a trusted adviser to GDG, and they have again provided valuable assistance to us on this matter.”
Baker McKenzie lead partner on the acquisition, Richard Lustig said: “We are delighted to have advised GDG on this transformative acquisition which is anticipated to deliver accelerated growth as a scaled market leader.”
“It is also meaningful for us to have watched and supported GDG through its journey over many years in becoming such a significant provider of investment solutions”, he added.
The Baker McKenzie team includes corporate partner Rick Troiano who led the capital raising, financial services partner Alan Darwin, as well as associates Yini Chong, Addison Naylor, Jed Lehmann and Nicholas Langsworth.
Baker McKenzie is a transactional powerhouse, with more than 2,700 deal lawyers in 45 jurisdictions offering pragmatic counsel in the areas most critical for clients. The Firm excels in complex transactions and cross-border deals, with over 65% of its deals being multijurisdictional. The teams are a hybrid of “local” and “global,” combining money-market sophistication with local excellence.
