EQT Holdings buys Platinum Investment Management

• EQT Holdings agreed to acquire Platinum Investment Management for nominal consideration from L1 Group.
• Following the announcement, the EQT share price was down at $19.82.
• The transaction expands trustee services and strengthens fiduciary governance across managed investment funds.

EQT Holdings (ASX:EQT) entered into a conditional agreement to acquire all issued shares of Platinum Investment Management for nominal consideration.

The deal expands the existing trustee relationship between EQT and L1 Group (ASX:L1G).

Under the agreement, the targeted entity will initially remain trustee before transitioning roles to another licensed group entity.

Following the announcement, the EQT Holdings share price was down at $19.82.

The business provides trustee services to listed and unlisted products, including the Platinum International Fund Complex ETF.

Investment managers and day-to-day strategies for all affected funds will remain unchanged despite the ownership transfer.