Experienced senior leadership

Senior attention to detail with a focus on shaping the commercial issues that go to value

Mark Lewkovitz

Founder, Managing Director

20+ years of corporate advisory experience and over A$25 billion completed M&A

Mark has advised on sell-side and buy-side M&A, initial public offerings, strategic reviews and capital advice across a diverse range of sectors including private equity, financials, industrials, services, consumer and technology

Founded Asymmetry Capital in 2025. Previously worked at Stanton Road, Grant Samuel, Morgan Stanley and ABN Amro

Bachelors of Commerce and Law from University of New South Wales

Sell-side M&A
  1. Compare Club on its sale to Next Capital
  2. Integrated Waste Services and Veolia on the sale of landfill, transfer station and recycling station assets to First Sentier
  3. Norske Skog on the sale of its Albury Mill to Visy
  4. Norske Skog on the sale of its Tasmanian plantation to New Forests
  5. Lennox International on its A$144m sale of Heatcraft APAC to Beijer Ref
  6. GE Capital on its A$2.0b sale of its commercial finance business in Australia and New Zealand to a consortium of Bain Capital and Deutsche Bank
  7. GE Capital on its A$8.2b sale of its consumer finance business in Australia and New Zealand to a consortium of Varde, KKR and Deutsche Bank
  8. GE Capital on its A$550m sale of Custom Fleet to Element
  9. Fleetplus on its sale to Fleet Partners
  10. NSW Government on its A$5.0b privatisation of Port Botany
  11. GE Capital on its sale of its Fleet Card payments business to FleetCor
  12. GMO Renewable Resources and Forestry Tasmania on their A$156m sale of Taswood Growers to New Forests
  13. Retail Decisions on its A$353m sale of its Australian fuel card and prepaid card payments businesses to WEX
  14. San Miguel on its A$2.8b sale of National Foods to Kirin
  15. San Miguel on its A$325m sale of James Boag & Son to Lion Nathan
  16. CHAMP Private Equity on its A$75m sale of Australian Paper Products to Gresham Private Equity
Buy-side M&A
  1. Waste Services Group on its acquisition of CSA Specialised Services
  2. Livingbridge on its acquisition of Waste Services Group
  3. Pemba Capital on its acquisition and subsequent merger of Premium Funding & Principal Finance
  4. WEX on its US$577m acquisition of eNett and Optal
  5. Archer Capital on the acquisition of Funlab (terminated during COVID)
  6. SG Fleet on its A$200m acquisition of NLC
  7. SITA Environmental Solutions on its A$235m acquisition of WSN Environmental Solutions from the New South Wales Government
  8. Australian Pipeline Trust on its A$206m acquisition of CMS's Australian pipelines assets, including the GGT and Parmelia pipelines
Public Market M&A
  1. Ardonagh Group on its A$2.4bn acquisition of PSC Insurance Group via scheme of arrangement
  2. Mortgage Choice on its A$244m scheme of arrangement with REA
  3. Next Capital on its acquisition of Silverchef’s hospitality business
  4. Haier on its acquisition of a 20% stake in Fisher & Paykel Appliances
  5. Hardman Resources on its A$1.5b scheme of arrangement with Tullow Oil
  6. Mitsui & Co on its A$665m acquisition of a 19.9% stake in Sims Group
  7. Westpac in relation to its stake in JDV under takeover by IWL
Capital Markets
  1. Next Capital on its refinancing of Silverchef
  2. Cluey Learning on its A$30m initial public offering
  3. Cluey Learning on its A$20m Series A and A$20m Series B capital raising
  4. The PAS Group on its A$121m initial public offering
  5. SG Fleet on its A$189m initial public offering
  6. Miclyn Express Offshore on its A$284m initial public offering
  7. Australian Pipeline Trust on A$61m equity placement following the CMS acquisition
Strategic Reviews
  1. Qantas on its liquidity and funding review
  2. Qantas in relation to ownership options for its frequent flyer business
  3. New South Wales Treasury on its Electricity Trading Risk Management Proposal
  4. New South Wales Treasury on a scoping study examining potential private sector participation in State Forests' plantations business

Fernando Lulli

Managing Director

14 years of corporate advisory experience across sell-side and buy-side M&A, initial public offerings, strategic reviews and capital advice

Broad range of sectors including private equity, financials, industrials, services, consumer and healthcare

Joined Asymmetry Capital in 2025. Previously worked at Goldman Sachs, Stanton Road and Grant Samuel. Also served as an infantry officer in the US Army

MBA from Harvard Business School and a Bachelors of Science and Engineering from Princeton University

Sell-side M&A
  1. ATOM on its sale to Pacific Equity Partners
  2. The Growth Fund on the sale of Fitness Passport to EQT
  3. Compare Club on its sale to Next Capital
  4. Pacific Equity Partners on its sale of Evolution Healthcare to QIC and SunSuper
  5. Greenstone on its sale of 44% stake to CDPQ
  6. Gazal on the sale of its Bisley division
  7. Thorn Group on its sale of personal loan book to Credit Corp
  8. Amedeo on the formation of aircraft leasing platform including a US$250m equity raise from Pine Brook Partners
  9. Santander on 50% sale of Santander Asset Management to Warburg Pincus and General Atlantic
  10. Goldman Sachs on sale of 64% stake in Rothesay Life to Blackstone, GIC and Mass Mutual
Buy-side M&A
  1. Livingbridge on its acquisition of Waste Services Group
  2. Adamantem Capital on its acquisition of Climate Friendly
  3. Pemba Capital on its acquisition and subsequent merger of Premium Funding & Principal Finance
  4. Silverchef on its acquisition of Econolease
  5. Arrow Global on its £158m acquisition of Capquest
Public Market M&A
  1. Ardonagh Group on its A$2.4bn acquisition of PSC Insurance Group via scheme of arrangement
  2. Mortgage Choice on its A$244m scheme of arrangement with REA
  3. Next Capital on its acquisition of Silverchef’s hospitality business
Capital Markets
  1. Commonwealth Bank of Australia on A$2bn hybrid issue
  2. Commonwealth Bank of Australia on A$5.6bn equity raise
  3. Arrow Global on £208m IPO on London Stock Exchange
  4. CVC Credit Partners on £463m IPO of its European leveraged loan and sub-investment grade debt closed-end fund
  5. CVC Credit Partners on implementation of placing programme for its European leveraged loan and sub-investment grade debt closed-end fund and £92m initial C-share placement
  6. Arrow Global on £220m leveraged recapitalisation
  7. CSG on refinancing of potential HoldCo debt facility
Strategic Reviews
  1. NSW Treasury on strategic options in relation StatePlus
  2. Electra Private Equity on defence strategy against UK-activist fund, Sherborne Investors
  3. Viburnum and other shareholders on valuation related to MPC and Kinetic merger