FUNDRAISING NEWS | September 19, 2024
TelstraSuper, the pension fund arm of Australian telecom Telstra, and Equip Super, which oversees a number of pension funds for Australian corporations, plan to explore a merger of equals that would bring total assets under management to AU$60B ($40.9B), the pensions said in a September 17 news release.
The boards of the Melbourne-based funds said they have signed a non-binding memorandum of understanding to explore the merger. Following the conclusion of due diligence, if successful, the boards expect the merger to be executed by late 2025, at which point they also expect the merged entity to continue with the “Equip Super” name.
View the press release here.
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