Australia Asset Managers Platinum Asset Management & L1 Capital Announced Merger to Create $10 Billion (AUD 16.5 Billion) Asset Manager, Platinum Asset Management Founded in 1994 by Kerr Neilson & Andrew Clifford, L1 Capital Founded in 2007 by Raphael Lamm & Mark Landau
8th July | Hong Kong
Australia asset managers Platinum Asset Management & L1 Capital have announced a merger to create a $10.7 billion (AUD 16.5 billion) asset manager. Platinum Asset Management was founded in 1994 by Kerr Neilson & Andrew Clifford. L1 Capital was founded in 2007 by Raphael Lamm & Mark Landau. Platinum Asset Management – Platinum Investment Management Limited, trading as Platinum Asset Management, is an Australian-based investment manager founded in 1994 that specialises in international equities, managing AU$11bn (as of 30 November 2024). The investment team uses a thematic stock-picking approach with the objective of achieving strong absolute returns over the long term. Platinum is ultimately owned by Platinum Asset Management Limited (ABN 13 050 064 287), a company listed on the ASX (ASX ticker PTM). L1 Capital – L1 Capital is a global investment manager with offices in Melbourne, Sydney, Miami and London. The business was established in 2007 and is owned by its senior staff, led by founders Raphael Lamm and Mark Landau. The team offers a diverse range of strategies, which include Long Short Fund, Catalyst Fund, International Fund, Global Opportunities Fund and U.K Residential Property Fund. L1 Capital serves a diverse investor base that includes large superannuation funds, pension funds, asset consultants, financial planning groups, family offices, private wealth firms, high net worth individuals and retail investors.
“ Australia Asset Managers Platinum Asset Management & L1 Capital Announced Merger to Create $10 Billion (AUD 16.5 Billion) Asset Manager, Platinum Asset Management Founded in 1994 by Kerr Neilson & Andrew Clifford, L1 Capital Founded in 2007 by Raphael Lamm & Mark Landau “
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Platinum’s Chair Guy Strapp: “The Platinum Board is unanimous in its view that this transaction is in the best interests of shareholders. After careful consideration, we believe the combination with L1 Capital provides a catalyst to deliver strong outcomes for shareholders and investors, creating a high-quality manager with a strong heritage, world-class investment talent and scale.”
Platinum’s Chief Executive Officer Jeff Peters: “This combination will enable us to deliver on our strategic goals sooner, while providing a pathway to significantly increase and diversify assets under management.”
L1 Capital co-founder Mark Landau: “Raf and I are both excited about bringing L1 Capital and Platinum together. We can see major benefits for both Platinum clients and shareholders from combining our capabilities. We believe this merger enables a decisive turnaround in the outlook for the Platinum business.”
L1 Capital co-founder Raphael Lamm: “Mark and I are both very committed to the future success of the combined business. We believe the combination of L1 Capital and Platinum will create one of Australia’s leading global investment firms, with a performance culture and extreme alignment with our investors. At L1 Capital, we have several top performing funds that have delivered strong returns and exceptional downside protection, which we think will resonate well with Platinum’s client base.”
Australia Asset Managers Platinum Asset Management & L1 Capital Announced Merger to Create $10 Billion (AUD 16.5 Billion) Asset Manager, Platinum Asset Management Founded in 1994 by Kerr Neilson & Andrew Clifford, L1 Capital Founded in 2007 by Raphael Lamm & Mark Landau
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