Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised on the A$414 million IPO of the NB Global Corporate Income Trust, a managed investment trust listed today on the ASX.
Corrs acted for both Neuberger Berman Australia Pty Ltd, the manager, and Equity Trustees Limited, the responsible entity and issuer, in the Trust’s ASX IPO.
Neuberger Berman is one of the world’s leading private, independent, employee-owned asset management groups and manages more than US$300 billion in client assets (as at 30 June 2018) across a range of strategies, including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds, on behalf of institutions, advisors and individual investors globally.With offices in 20 countries, it has had a presence in Australia since 2007.
Corrs lead Partner on the matter, Fadi Khoury said: “This was a signature role for Corrs, bringing to bear our longstanding expertise assisting institutional managers in the structuring and offer of unique investment products into the Australian investor market.
“The strategy, offered for the first time as a listed product, gives Australian investors exposure to the global high yield market via a well-diversified portfolio comprising the bonds of around 300 large, global companies.”
According to Jason Henchman, a Managing Director of Neuberger Berman in Australia, “The Trust has been well received by Australian investors, looking for a global and diversified source of income for their portfolios.”
“We appreciate the role played by Fadi and his Financial Investor Group team at Corrs in guiding all stakeholders through a successful process,” said Harvey Kalman, Executive General Manager, Corporate Trustee Services & Head of Global Fund Services at Equity Trustees.
“It was the perfect opportunity for Equity Trustees to demonstrate our collaborative approach and specialist capability in launching a listed trust product – an area which is experiencing a rejuvenation of interest in the market.”
The Corrs team was led by Fadi Khoury, supported by Partner Andrew Lumsden and Lawyers Magan Goh, Madeleine Kulakauskas, Jaclyn Riley-Smith and Tahnee De Souza.
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