LM Investment Management Ltd was a Gold Coast, Australia-based fund management company founded by Peter Drake. It specialized in managing investment funds, most notably the flagship LM Managed Performance Fund, which invested heavily in property development finance and mortgages. At its peak, the company managed over AUD $3 billion in assets for thousands of investors, both domestic and international. The company faced severe financial difficulties following the global financial crisis and collapsed in March 2013, entering voluntary administration and then liquidation, which resulted in the freezing of hundreds of millions of dollars in funds and substantial losses for its investors.

Founded in

United States