Kerr Neilson will long be remembered as a legend of the funds management industry. The decision to sell almost all his remaining stake in Platinum Asset Management to L1 Capital shows he was also on the other side of one the country’s worst divorce trades.

This column has on several occasions remarked on his ex-wife Judith Neilson’s smart investment decision to dump her half-share of their Platinum holdings after their sizeable divorce settlement in 2021. Kerr’s financial folly in holding is really hitting home now.