Industries
Investment Funds Practices
Private Capital 
Regulatory & Compliance Elliott has deep industry knowledge and specialist expertise in the regulation of fund and investment management businesses, corporate and wealth advisers, and related service providers. He assists clients in establishing and growing their business, including by structuring funds and novel products and broadening service offerings.
Elliott focuses on all facets of funds management and financial services compliance and works closely with clients to achieve their commercial objectives by transforming complex legal issues into practical solutions. He advises national and international financial services groups, as well as both new entrants and established industry participants.
Elliott strives for long-term relationships with clients and is valued by them as a trusted adviser. He is a sought-after speaker and regularly presents for the Compliance Committee Forum and Property Funds Association master classes. Elliott is an active participant in Financial Services Council working groups and has participated in Treasury roundtables regarding the corporate collective investment vehicle (CCIV) regime and the regulatory framework for managed investment schemes.
Elliott is a member of the Property Funds Association.
Experience
- Lead adviser to Stara Real Estate & Advisory and assisted it to become the first AFS licensee in Australia to be authorised to operate a corporate collective investment vehicle (CCIV) as corporate director, which is a significant industry milestone.
- Applying for and successfully obtaining more than 120 AFS licences and variations to existing licences for clients, with average assessment times well below ASIC’s service charter targets.
- Lead adviser to Stara Real Estate & Advisory in establishing the complexly structured Stara Venu CCIV and making the first public offer in Australia for a CCIV, which is a significant industry milestone. The CCIV was structured to acquire and manage a portfolio of hospitality assets, with one sub-fund acquiring real property assets, and another sub-fund acquiring operating businesses. Shares in each sub-fund were stapled to shares in the other sub-fund, and investment was made through the offer of stapled securities pursuant to an information memorandum.
- Lead adviser to Primewest Group (ASX:PWG) (now part of Centuria Capital Group, ASX:CNI) with respect to two mandates it received from GIC Private Limited, a sovereign wealth fund established by the Government of Singapore, with total equity commitments in excess of $600 million.
- Advising Hesperia in the establishment of the Hesperia Nedlands Trust, a fund established for the purpose of investing in a prime site located in Nedlands, Western Australia, including all aspects of the establishment and promotion of the fund.
- Lead adviser to Primewest Group (ASX:PWG) (now part of Centuria Capital Group, ASX:CNI) on its participation in a consortium of private investors (Home Investment Consortium Trust) to acquire the $725 million Masters property portfolio from Woolworths. Primewest’s investment entity invested alongside the owners of Chemist Warehouse, Spotlight Group, and Aurrum.
- Assisting Centuria Capital Group (ASX:CNI) with establishing new funds, including the Centuria 80 Flinders Street Fund, Centuria 80 Grenfell Street Fund, Margaret River Shopping Centre Trust, and the Centuria Sandgate Road Fund, and advising on compliance with the AFS laws and the extension of the terms of multiple funds.
- Lead adviser to Primewest Group (ASX:PWG) (now part of Centuria Capital Group, ASX:CNI) with respect to all aspects of its joint venture with BlackRock to purchase the landmark ‘AMP Tower’ located at 140 St Georges Terrace, Perth.
- Advising on restructuring various established financial services businesses to provide for regulatory efficiency and to minimise the compliance burden, including in the context of financial requirements imposed on AFS licensees.
- Acting for buyers and sellers of AFS licenced businesses, including by preparing and negotiating share sale and purchase agreements and advising on compliance with the AFS laws.
- Lead adviser to a global litigation funding group with respect to new legislation requiring compliance with the AFS licensing laws and the managed investment scheme provisions of the Corporations Act.
- Lead adviser to USS Funds Management on the establishment a stapled vehicle to acquire, develop, and operate self-storage facilities as part of a joint venture with National Storage (ASX:NSR).
- Lead adviser to Satterley Property Group, a leading property development firm founded by Nigel Satterley (AO) in the establishment of a funds management arm in addition to its existing business.
- Advising a Perth-based property funds management business with respect to compliance with the AFS laws in relation to the sale of part of its business to a global private equity firm.
- Advising a leading Singapore-based fund manager in establishing and structuring the Australian arm of its international funds management business, including by obtaining relief from the Australian Securities and Investments Commission.
- Acting on the launch and ASX-listing of the $300 million Gryphon Capital Income Trust (ASX:GCI).
- Advising Cashwerkz (ASX:CWZ) on regulatory compliance, including the launch of a new product (BondIncome).
- Advising Cromwell Property Group (ASX:CMW) in the extension of the Cromwell Ipswich City Heart Trust and the Cromwell Riverpark Trust and advising on regulatory compliance.
- Advising Castlerock/Auslink in relation to the Auslink Property Trust No. 2, a registered fund that invests in a portfolio of Commonwealth and State Government leased assets with a total portfolio value of more than $536 million, and advising as to regulatory compliance and the launch of new funds.
Professional Membership
- Member, Property Funds Association
Latest thinking
Financial Services | 25 Mar 2024
Financial Services in Focus – Issue 91
Catch up on the latest financial services news, including ASIC’s and APRA’s cross-industry information package on the Financial Accountability Regime.