Stuart Broadfoot

Advised innovative generative AI company Leonardo Interactive Pty Ltd (Leonardo.ai) in its strategic and fast-paced acquisition by Canva, Inc., a globally renowned graphic design powerhouse founded in Australia as part of a part cash, part scrip deal across Australia, UK, Europe and the United States. Included advise on transaction structure and negotiating and implementing transaction.

Led the tax structuring and advisory work for fund manager Elka Capital in a joint venture with Assembly Funds Management to launch a residential land lease fund and acquired two initial sites in Victoria as part of a plan to grow to acquire 10 communities valued ultimately at AU$500 million. Mandate included assisting founders on co-investment structure into the fund.

Acted for an Australian telecommunications and technology company on the acquisition of all of the shares in a cell network provider to enable access to additional Australian mobile spectrum, including providing urgent advice to deliver commercial solutions on transaction, and negotiating tax aspects of transaction. 

Acted as lead tax counsel for Spaceship Financial Pty Ltd in its cross-border acquisition by eToro, including negotiating tax aspects of transaction and providing strategic tax advice to enable successful completion of the disposal.

Advised private markets fund manager Franklin Templeton Australia in relation to the launch of the Australian Franklin Lexington Private Equity Secondaries Fund, which invests into the Franklin Lexington PE Secondaries Fund (FLEX-I), a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. Provided strategic Australian tax counsel across structuring and launch of fund.

Advised global asset manager First Sentier Investors on the launch of its first exchange-traded fund product, First Sentier Geared Australian Share Fund Complex ETF, on the Australian Securities Exchange.

Acted as Australian tax counsel for a US based retail-focused real estate investment company with AU$1.3 billion assets under management on reorganisation of its holding structure, working with US tax and legal counsel to achieve structural efficiencies and provide effective cross-border solutions.

Acted as tax advisor to US headquartered global fund manager, Dimensional Fund Advisors, on the launch of its first three exchange traded funds on the Australian Stock Exchange, which invest into underlying US-based exchange traded funds and provide a dual-access structure for both on-market and off-market transactions.

Acted for Premier Capital Partners on launch of first fund, Premier Capital Partners Fund 1, targeting growth equity investments.

Advised a global infrastructure fund manager on the relaunch and structuring of its Australian infrastructure fund focused on renewables infrastructure projects, including refreshing its constitution and disclosure materials and providing strategic advice on tax and duty matters.

Acted for a number of early-stage venture capital limited partnerships and venture capital limited partnerships in relation to onshore and offshore investments intended to qualify as eligible venture capital investments.

Advised on, developed and implemented employee share schemes for a number of clients across various stages of business, from start-up tax concession option plans to more structured senior equity arrangements.

Acted on a number of mandates for clients (both startup and established entities) on US "flip-ups"/redomicile involving the "top-hatting" of Australian groups with a US holding company to enable better access to capital funding, coordinating across Australia, the United States and other relevant jurisdictions to implement in a tax-effective manner for both shareholders and employee share option plan participants.

Acted for a US headquartered, NYSE-listed global conglomerate in relation to tax aspects of acquisition of Australian-based software firm.

Acted as lead Australian tax counsel on establishment of an Australian feeder fund for global private equity fund manager to enable investment by Australian superannuation funds into a significant private equity co-investment based in the United States.

Advised a significant international pension fund on the range of tax issues associated with the making and funding of various inward private equity investments into Australia. This includes its continued investment into, funding of, and subsequent partial sell down of its interest to a JV partner in one of Australia’s largest transport operators and the associated sale and leaseback of a property portfolio.

Acted as lead solicitor in successful tax litigation for a major Australian rail transport company, obtaining declaratory relief against the Commissioner of Taxation in relation to the tax characterisation of a AU$4.3 billion capital contribution made during its privatisation.

Advised two significant global private equity investment funds on cross-border and Australian tax issues arising from divestment of interests in an Australian headquartered Asian cloud infrastructure business.

Advised a global infrastructure fund manager on tax issues relating to an existing global infrastructure fund, including the launch of a new fund vehicle, structuring of acquisition of major investments by the fund, implementation of a tax governance framework, and preparing tax disclosure summary in investment materials.

Advised several issuers on the issue of publicly listed convertible/exchangeable debt instruments, including advising on interest withholding tax exemptions under section 128F and preparing tax disclosure statements.

Acted for a global beverage firm on tax aspects of sale of part of its Australian business lines, including negotiating transaction documents, and advising on potential sale tax issues.

Advised a major Australian superannuation fund in relation to the tax issues associated with private equity investments into offshore funds in a number of jurisdictions.

Advised a global fund manager in relation to Australian tax implications of changes to cross-border master fund.

Advised a major international oil company on tax aspects of significant oil-related inward investment into East Africa, including negotiating tax aspects of key project agreements with East African governments and advising on investment structure for it and its joint venture partners.

Advised a significant US-based global insurance company on cross-border investments into a property financing business in the UK.

Advised international banks on a range of significant cross-border finance transactions.

Acted for the directors of an Australian company that received significant director penalty notices assessing them to liability to unpaid historical superannuation contributions. Negotiated with the Australian Taxation Office to a settlement to relieve the directors of liability.

Acted for a significant Australian construction industry client on significant taxation audit, including preparing submissions, addressing compulsory information notices, negotiating with the Australian Taxation Office and briefing Senior Counsel.