Global law firm Clifford Chance has advised leading global alternative investment management firm Oaktree Capital Management LP (Oaktree) on its AU$240 million investment in and strategic growth partnership with leading Australian accounting and financial advisory firm AZ Next Generation Advisory (AZ NGA). Oaktree’s investment will make it the largest shareholder of AZ NGA.

Partner David Clee said, “It was a privilege to advise Oaktree on this complex transaction, which will help accelerate the success of AZ NGA. We deeply value our longstanding relationship with Oaktree and thank the Oaktree team for the opportunity to serve them on another milestone transaction in Australia.”

David was supported by counsel Marcus Berghouse, and senior associates Sarah Jenkins and Melanie Ray, together with subject matter experts from across the firm’s practice.

AZ NGA provides financial advice and accounting services to small and medium businesses through its network of 34 partner firms, in which it has majority or minority stakes in. The transaction will support AZ NGA’s growth plans and market position through AZ NGA’s acquisition and consolidation activity in Australia. AZ NGA collectively manages AU$15.1bn of assets under advice as of 31 August 2024.