Canadian pension fund acquires minority interest in Australia’s La Trobe Financial
Canadian pension fund OMERS will acquire an indirect minority interest in Australian alternative asset manager La Trobe Financial via a Brookfield private equity investment vehicle, following an agreement with Brookfield.
The financial terms of the transaction, which is expected to close in the first quarter of 2027 subject to regulatory approvals, have not been disclosed.
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Brookfield will retain majority ownership of the business, which it acquired in 2022.
Since then, La Trobe Financial has grown assets under management to A$27bn (£14.2bn) and has expanded its product offering, with the launch of a US private credit product and a listed investment trust on the Australian Securities Exchange.
It has also invested in its systems to improve investor engagement, client service and operating efficiencies.
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“Since our acquisition in 2022, La Trobe Financial has delivered record growth, supported by its strong origination capabilities, diversified funding model and continued demand for specialist credit solutions. Growth has been sustained amidst a tough macro environment and competitive landscape for wealth,” said Shiv Gupta, Brookfield private equity head of Australia.
“The OMERS indirect investment reflects the strength of La Trobe Financial’s platform and the opportunity ahead.”
“We are pleased to partner with Brookfield to invest in La Trobe Financial, a high-quality business with a strong market position and attractive long-term growth prospects. This investment demonstrates our ability to deliver flexible, structured investment solutions and reflects OMERS continued commitment to growing its presence in Australia,” added Alexander Fraser, executive vice president and global head of private equity at OMERS.
