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Who’s who of Australian investing line up for Murdoch siblings’ News Corp stock

Some of Australia’s best known fund managers including Perpetual, L1 Capital, Soul Patts and Wilson Asset Management put orders in for News Corp shares sold as part of a landmark family settlement.

John Buckley
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The public offer was triggered by a deal struck between Lachlan Murdoch and his three oldest siblings, Prudence MacLeod, Elisabeth Murdoch and James Murdoch, to buy them out of the family trust to secure control of the family empire. AAP/Dean Lewins.

Australian fund managers Perpetual and L1 Capital have lined up for discounted shares in News Corp after Lachlan Murdoch struck a deal to buy his oldest siblings out of the family trust and cement his control of the family empire.

The settlement triggered a secondary share sale of News Corp voting shares underwritten by Morgan Stanley on Monday evening into Tuesday morning. Sydney stockbroker Angus Aitken acted as a capital markets adviser to the Murdoch-controlled publishing giant.

The funds that participated in the public offer include Perpetual, L1, Soul Patts, and Wilson Asset Management, according to people familiar with the situation, speaking on the condition of anonymity to discuss non-public information.

However, it remains unclear how many shares were ordered, and whether shares have been allocated to all of the funds, one of the people said.