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Herbert Smith Freehills is proud to have advised GQG Partners Inc. (GQG Partners) on its initial public offering (IPO) of CHESS Depositary Interests (CDIs), raising A$1.2 billion for a A$5.9 billion listing on the Australian Securities Exchange (ASX). GQG Partners is the largest listing on ASX by market value in 2021. 

The IPO comprised of an Institutional Offer and Broker Firm Offer of CDIs over shares of common stock in GQG Partners. GQG Partners’ co-founders, Rajiv Jain and Tim Carver, and certain other employees will continue to own around 75% of the company.

GQG Partners is a global boutique asset management firm headquartered in the United States that is focused on active equity portfolios. As at 30 September 2021, GQG Partners managed US$85.8 billion across its investment strategies for investors, including pension funds, sovereign funds, wealth management firms and other financial institutions around the world.

The deal team was led by partner Philip Hart and executive counsel Cecilia Mehl, and supported by senior associate Jessica Voong and solicitors Adrian Palladino and Alex Jarmyn. The team also included financial services specialists comprising of partner Fiona Smedley and senior associate Yorick Ng in Sydney, and partner Nish Dissanayake and senior associate Davy Thai in London. Senior associate Bianca Marcocci advised on corporate governance.  

Philip Hart said, "We congratulate GQG Partners on its successful IPO and are very pleased that the Herbert Smith Freehills team was able to assist on this significant achievement. It was a pleasure working with the GQG Partners team and we wish them every success as a listed company".

UBS AG, Australia Branch and Goldman Sachs Australia Pty Ltd acted as joint lead managers on the IPO. Dechert LLP acted as US legal counsel for GQG Partners.

This transaction is a testament to Herbert Smith Freehills’ market-leading reputation for complex equity capital markets transactions.

Key contacts

Philip Hart photo

Philip Hart

Partner, Sydney

Philip Hart
Cecilia Mehl photo

Cecilia Mehl

Executive Counsel, Melbourne

Cecilia Mehl

Media contact

For further information on this article please contact

Emily Coultas

Emily Coultas, External Communications Manager