Eleanor Gerrans – GC Powerlist
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Australia Rising Stars 2023

Financials

Eleanor Gerrans

Senior legal counsel | Dexus

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Australia Rising Stars 2023

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Eleanor Gerrans

Senior legal counsel | Dexus

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?  
 
A couple of years ago, we had a process in which marketing materials were reviewed by rotating graduates on our team. However, there was no clear process for assigning work between them, and the marketing team did not know whom to approach at any given time, as the graduates were rotating frequently. I worked with IT to establish a ‘marketing review’ inbox that the graduates were granted access to. They could use this inbox to see who was reviewing what, giving them more control over their workloads and simplifying the process for the marketing team to know who to go to. Additionally, I set up a ‘global marketing review’ mailing list, making it clearer for the marketing team to determine whom they needed to seek approval from for materials distributed internationally. While these were small changes, each of the graduates, the international reviewers, and the marketing team found the process more streamlined, with fewer matters falling through the cracks.  
 
What are the most significant cases or transactions that your legal team has recently been involved in?  
 
Over the past two years, I have acted on several corporate transactions related to the AMP Capital business. Progress was well underway for the demerger of the business from its parent company, AMP, when we received several offers. Subsequently, a decision was made to engage in a two-part sale process. The Australasian business was sold to Dexus, while the global business was sold to Digital Bridge. My role focused on the sale to Dexus throughout this period.  
 
This transaction was very complex. Initially, it was conceived as a share sale, contingent on various precedent conditions. A detailed due diligence process was conducted, relating to all fund assets, followed by a consents process. However, in early 2023, due to the anticipated lengthy time required to obtain necessary regulatory approvals, a decision was made to transition to a two-stage transaction process, involving a combination of share and asset sales. Complex contractual arrangements were put in place to facilitate the transition between these two stages and support the ongoing operation of the business.  
 
I played a substantial role in shaping the operating model, formulating relevant contracts, and presenting the transaction structure, ongoing contractual arrangements, and pertinent legal considerations to the business. The transaction achieved its first close in March 2023.  
 
At the same time, I have continued to do my ‘day job’ of supporting the infrastructure business. During this period, I have been involved in several transactions, including the sale of our client Rest’s stake in Endeavour Energy, which was completed in August 2023; the sale of a stake in the parent company of Melbourne and Launceston airports on behalf of another IMA client in June 2023; the acquisition of a stake in the Royal Adelaide Hospital on behalf of three Dexus managed funds, which closed in May 2023; and the acquisition of a student accommodation facility at the ANU in December 2022.  
 
What is a cause, business related or otherwise, that you care about, and why?  
 
Climate change is the greatest issue of our time, one that has the potential to affect many of our decisions and actions. One aspect of my role that I am grateful for is the ability to contribute to the energy transition. This is an area I plan to focus on in the coming years. It is also a personal focus for me, and I actively live these values by adopting a vegetarian (vegan when possible) diet, choosing to walk instead of drive whenever feasible, opting for green energy sources, offsetting emissions from my flights, and taking various actions to reduce my personal carbon footprint. Additionally, I am a member of ‘Professionals for Climate,’ an organisation that meets regularly to discuss climate change-related topics and actions to reduce our environmental impact.

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