Platinum Asset Management shareholders back acquisition of L1 Capital

The news: Platinum Asset Management shareholders have overwhelmingly backed the plan to merge with L1 Capital, creating an entity with about $16.7 billion in funds under management, and have also approved the renaming of the merged entity to L1 Group.

The numbers: Of the votes cast, 99.12% voted in favour of the merger arrangement which will see L1 Capital shareholders hold 74% of shares in the merged group and Platinum shareholders holding the remaining 26%.

With regards to the renaming of Platinum Asset Management to L1 Group, 99.14% of the votes cast were in favour.

The context: The binding merger terms were agreed to on 8 July 2025 after months of due diligence. It is expected that the merged entity will begin trading under the L1G ticker on 1 October 2025.