HWLE has advised Barings in relation to its acquisition of a majority stake in Swift Storage (Swift) with a $200 million equity commitment, marking Barings strategic entry into Australia’s self-storage market.

Barings, one of the world’s leading investment managers, has acquired a majority stake in Swift, an Australian developer, owner, and operator of contactless self-storage centres. Barings has seeded a $200 million of balance sheet equity with a vision to grow Swift into a nationwide household-name. Founded in 2022, Swift’s technology enabled business model focuses on contactless, drive up, storage unit estates with zero on-site staffing requirements. The property portfolio comprises 15 purpose built self-storage centres, and a secured pipeline of new self-storage developments across Queensland. This acquisition marks a major milestone in Barings’ strategic entry into the growing self-storage sector in Australia.

The HWLE team worked closely with the Barings deal team including Tamara Williams, Senior Director, Luke Bryant, Investment Director and Penny Sarantis, Assistant General Counsel and Barings’ other professional advisers.

Tamara Williams, Senior Director, Private Equity Real Estate at Barings said “HWLE worked seamlessly as part of our deal team and provided practical solutions including advising on a buyside warranty & indemnity insurance solution and structuring advice as well as deal execution”.

The HWLE project team was led by Andrew Buchanan (Property Partner) and Paul Brown (Funds Management Partner). The M&A aspects were dealt with by Matthew Payne (Partner) and David Fechter (Special Counsel), the Funds Management aspects by Paul Brown (Partner) and Niamh Tuohy (Senior Associate) and the Property aspects by Andrew Buchanan and Michael Robinson (Partner). Specialist support was provided by Nima Sedaghat (Partner – Tax), John Caravousanos (Partner – Stamp Duty), Cam Steele (Partner – FIRB), Helen Kavadias (Partner – Intellectual Property), Sonya Kroon (Partner – Construction), and Kathryn Dent (Partner – Employment).

Note to Editors:

HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by the Australian Financial Review.

The firm comprises 1,775, staff including 285 Partners, 1,105 other legal staff and 404 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (Northwest Sydney), Perth and Sydney.

HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

For further information, please contact:

Russell Mailler, Chief Executive Partner (03) 8644 3569 or rmailler@hwle.com.au

Angelique Kear, Head of Marketing (02) 9334 8541 or akear@hwle.com.au