How L1 Global Long Short Fund Raised $477 Million to Fuel Growth
L1 Global Long Short Fund Limited has successfully raised approximately $477 million through a combination of entitlement, shortfall offers, and an institutional placement, positioning itself for expanded investment activity under its global strategy.
- Completed pro-rata non-renounceable entitlement and shortfall offers raising $415 million
- Additional $62 million raised via institutional placement at $1.63 per share
- Total equity raising of approximately $477 million
- L1 Group and founders committed $90 million to the raise
- New shares to commence trading on ASX from December 30, 2025
Successful Capital Raise
L1 Global Long Short Fund Limited (ASX – GLS) has announced the successful completion of a significant equity raising initiative, combining a pro-rata non-renounceable entitlement offer, a shortfall offer, and an institutional placement. The company secured approximately $477 million in total, exceeding initial expectations and demonstrating strong investor confidence in its strategy and management.
Details of the Offer
The entitlement offer and shortfall offer together raised about $415 million at an offer price of $1.63 per new share. Notably, all entitlement applications were fully satisfied, with the Top-Up Facility allowing eligible shareholders to apply for up to 100% additional shares beyond their entitlement; a generous cap that surpassed the initial guideline of 50%. The shortfall offer was oversubscribed, leading to scaled allocations to wholesale clients to maintain equitable treatment and broaden the shareholder base.
Institutional Placement and Strategic Backing
In response to strong demand, the company also conducted an institutional placement raising approximately $62 million at the same offer price. This placement enabled further participation by institutional and wholesale investors who might otherwise have faced scale-backs. The L1 Group and the founders of L1 Capital demonstrated strong commitment by contributing $90 million to the equity raising, with $62 million of this amount included in the placement.
Implications for the Fund
The proceeds from this substantial capital raise will be deployed in line with L1 Capital's Global Long Short Strategy, which aims to generate returns through a balanced approach to long and short positions across global markets. The issuance of nearly 293 million new shares will increase the fund’s capital base, potentially enhancing its investment capacity and market presence. These shares are expected to begin trading on the ASX on December 30, 2025, and will rank equally with existing shares.
Looking Ahead
This successful equity raising marks a pivotal moment for L1 Global Long Short Fund, signaling robust investor appetite and positioning the fund for growth. Market participants will be watching closely to see how effectively the new capital is deployed and whether the fund can deliver on its strategic objectives in the coming months.
Bottom Line?
With nearly half a billion dollars raised, L1 Global Long Short Fund is set to expand its global investment footprint; next steps will reveal how this capital translates into performance.
Questions in the middle?
- How will the increased capital base affect the fund’s risk profile and investment strategy execution?
- What specific sectors or geographies will the fund target with the new capital?
- Will the equity raising impact existing shareholders through dilution or changes in dividend policy?
