Global investment firm Brookfield Asset Management has agreed to sell a significant minority stake in Australia-based alternative asset manager La Trobe Financial to Abu Dhabi’s Axight.
In a joint statement, Brookfield said the deal values the business, which it has owned since May 2022, at about $2.1 billion. Brookfield will remain a majority shareholder.
Axight, an Asia-focused private equity investment manager established by Lunate, is buying the stake through one of its managed vehicles, per the announcement.
The deal, according to the companies, comes as La Trobe Financial has expanded its assets under management to $16.3 billion from $9.9 billion over the past four years.
The firm recently introduced a listed investment trust on the Australian Securities Exchange and has continued to broaden its product suite, according to the announcement.
Brookfield said La Trobe added $2.1 billion in AUM in the last 12 months alone, underpinned by long-term trends including an ageing population, rising superannuation balances, and Australia’s household financial assets pool, estimated at $5.3 trillion.
“We are pleased to welcome Axight and together will work alongside management to help La Trobe Financial execute on its strategy of delivering consistent, risk-aware returns to investors and reliable, specialist credit solutions to borrowers,” said Shiv Gupta, head of Australia for Brookfield’s Private Equity Group.
Mujtaba Hussain and Jerry He, co-managing partners at Axight said the investment fits its strategy of backing high-quality platforms with strong fundamentals, resilient business models, and clear long-term growth potential.
The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2026.
Brookfield Asset Management is headquartered in New York and oversees more than $1 trillion in assets under management across strategies, including real estate, credit, infrastructure, and private equity.
Aside from La Trobe Financial, the firm’s investments in the Asia Pacific include Trimco International Holdings, a Hong Kong–based garment manufacturer acquired from Affinity Equity Partners for $850 million in 2022; and Everise, a customer experience and technology services company acquired from Everstone in 2020.
