Herbert Smith Freehills has advised the A$4.8 billion Goodman Australia Industrial Fund (Australia’s largest wholesale industrial vehicle) on a new equity raising of $624 million and various enhancements to its fund structure. The proposal was approved this week by a significant majority of GAIF unitholders.
Partner Justin O’Farrell led the Herbert Smith Freehills team working with senior associate Matthew Farnsworth and solicitor Erica Zhong.
“The enhancements to the fund’s governance continue a trend towards a partnering approach between managers and their institutional investors,” said O’Farrell. “This trend has followed the increasing sophistication of both managers and their investors.”
“Goodman’s capacity to attract significant offshore and onshore investment is indicative of the leading position they command in the industrial space.”
“We look forward to working further with Goodman Australia Industrial Fund towards a second equity closing in 2013.”
