Key Takeaways
- • Ontario Municipal Employees' Retirement System (OMERS) has acquired a minority stake of nearly 20% in Australian investment manager La Trobe Financial from Brookfield, according to the primary source.
- • Brookfield retains majority ownership of La Trobe Financial following the transaction, which is subject to regulatory approvals and expected to close by January 2027.
- • OMERS had C$151.6 billion ($107.93 billion) in assets under management as of June 20; La Trobe has A$27 billion ($18.99 billion) in AUM.
- • The deal follows Brookfield's earlier sale of a stake in La Trobe to Abu Dhabi-based private equity firm Axight for $3 billion, and Brookfield's 2022 acquisition of La Trobe from Blackstone for $1.5 billion.
Summary
The Ontario Municipal Employees' Retirement System (OMERS) has bought a minority stake of nearly 20% in La Trobe Financial, the Australian asset manager, from Brookfield, according to the report. Brookfield continues to hold a majority of La Trobe, and the transaction is subject to regulatory approvals and is expected to close by January 2027.
OMERS had C$151.6 billion ($107.93 billion) in assets under management as of June 20. La Trobe, which reports A$27 billion ($18.99 billion) in AUM, is a seven-decade-old Australian business whose shareholder base now includes Brookfield, Abu Dhabi-based private equity firm Axight and OMERS. Earlier in the year, Brookfield sold a stake in La Trobe to Axight for $3 billion. Brookfield had acquired La Trobe from Blackstone in 2022 for $1.5 billion.
La Trobe chief executive Chris Andrews described the OMERS investment as "a strong vote of confidence" in the company, its people and its platform. He said OMERS "shares our conviction in the growing opportunity to provide high-quality investment offerings to Australian investors." Andrews added that Brookfield "remains our majority shareholder and an important strategic partner," citing its support, operating expertise and global perspective since its 2022 investment.
Under Brookfield's ownership, La Trobe has broadened its product range, including the launch of a U.S. private credit product and a listed investment trust on the Australian Securities Exchange. The firm has also invested significantly in systems to deepen investor engagement, enhance client service and improve operating efficiencies. Andrews said the company's focus remains on investor and borrower outcomes, disciplined capital management and investment in people, products and capabilities.
OMERS had C$151.6 billion ($107.93 billion) in assets under management as of June 20. La Trobe, which reports A$27 billion ($18.99 billion) in AUM, is a seven-decade-old Australian business whose shareholder base now includes Brookfield, Abu Dhabi-based private equity firm Axight and OMERS. Earlier in the year, Brookfield sold a stake in La Trobe to Axight for $3 billion. Brookfield had acquired La Trobe from Blackstone in 2022 for $1.5 billion.
La Trobe chief executive Chris Andrews described the OMERS investment as "a strong vote of confidence" in the company, its people and its platform. He said OMERS "shares our conviction in the growing opportunity to provide high-quality investment offerings to Australian investors." Andrews added that Brookfield "remains our majority shareholder and an important strategic partner," citing its support, operating expertise and global perspective since its 2022 investment.
Under Brookfield's ownership, La Trobe has broadened its product range, including the launch of a U.S. private credit product and a listed investment trust on the Australian Securities Exchange. The firm has also invested significantly in systems to deepen investor engagement, enhance client service and improve operating efficiencies. Andrews said the company's focus remains on investor and borrower outcomes, disciplined capital management and investment in people, products and capabilities.
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