Minter Ellison advises on AMP Limited's acquisition of the Cavendish Group

June, 2012 - Sydney, New South Wales

Minter Ellison advised AMP Limited on its acquisition of the Cavendish Group, the largest self-managed superannuation fund (SMSF) administrator in Australia with more than 5,000 funds and 110 employees.

On Wednesday 27 June, AMP announced the Cavendish acquisition in conjunction with its announcement that it is establishing a new business unit to expand its presence in the fast growing SMSF market. The new unit, AMP SMSF, will deliver SMSF administration services to individuals, accountants, stockbrokers and external financial advisers.

AMP's SMSF director, Paul Sainsbury, said that the acquisition of Cavendish, combined with the client base of AMP's existing SMSF businesses, will make AMP the most significant player in the SMSF professional administration market. The SMSF sector is the largest and fastest growing superannuation sector in Australia, with current assets of approximately A$430 billion that are expected to grow to more than A$2.2 trillion by 2030.

Our advisory team was led by corporate partner Carolyn Reynolds.

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