Slaughter and May has won a new client after bagging the lead advisory role acting for asset management company Ashmore Group on its £1.2bn flotation and placing on the London Stock Exchange.

Slaughters landed the role – its first major instruction for the London-based investment management group – after winning out in a tender process prior to the listing on 12 October.

Corporate partner Jan Putnis led a team for the magic circle firm that included associates Jasmine Amaria, Kevin King and John Cunningham.

Ashmore was advised on US aspects of the deal by the London arm of Davis Polk & Wardwell, with corporate partner John Banes leading the team.

Ashmore, which manages assets worth around £9bn, specialises in emerging markets and has previously instructed City firms including Clifford Chance (CC).

In June CC's New York arm advised Ashmore Investment Management on the $2.1bn (£1.1bn) acquisition of all of the foreign-based energy assets of defunct energy giant Enron through the purchase of Enron subsidiary Prisma Energy International.