Brookfield Business Partners, a global business services and industrials company focused on owning and operating high-quality businesses, agreed to acquire La Trobe, an Australian non-bank lender and asset manager, from Blackstone, a private equity firm, for $1.1bn. "We are pleased to expand our presence in Australia with the acquisition of La Trobe Financial, one of Australia’s leading mortgage originators and asset managers. We intend to invest in La Trobe Financial to support its growth and look forward to building on the business’ foundation of continuous growth and profitability," Len Chersky, Brookfield Business Partners Managing Partner.