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Firms negotiate Charlie Aitken's $300m fund

Firms negotiate Charlie Aitken's $300m fund

Fadi-Khoury

Two global firms have lent a hand in setting up an investment fund to be managed by high-profile stockbroker Charlie Aitken.

Firms: Norton Rose Fulbright (Aitken Investment Management); Herbert Smith Freehills (acted for a seed investor)

Deal: Charlie Aitken launched a new AIM High Conviction Fund.

Value: The fund seeks to raise in excess of $300 million.

Key players: NRF’s legal team comprised Sydney partners Fadi Khoury and John Moutsopoulos and associates Jack Kelly and Davy Thai.

Deal significance:

Mr Aitken is a 42-year-old macroeconomic forecaster with a long history of advising some of Australia's wealthiest families. The AIM High Conviction Fund, which has received $150 million from the Stokes family, completes Mr Aitken's transformation from stock broker to fund manager.

The fund is looking to invest beyond Australia in global stocks, bonds, currencies and derivatives. It will begin trading in July. 

“This move reflects the continuing appetite among Australian investors for products that seek to access growth and mispricing opportunities in foreign markets, as well as a willingness to back key individuals with a track record in standing behind their views about market opportunities,’ Mr Khoury said.

Mr Aitken said: “The product, people and timing of the fund are right.

“The fund structure is first-class and scalable, aided by excellent advice from NRF. We aim to compound capital globally then protect when necessary”.

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