Pendal makes US fund manager acquisition
Pendal Group has announced it has moved to acquire US-based value-oriented fund manager, Thompson, Siegal and Walmsley LLC.
Pendal announced to the Australian Securities Exchange (ASX) today that it had entered into an agreement to acquire 100% of the US fund manager for $413 million.
Confirming the move, Pendal Group chairman, James Evans described it as a strategic and compelling opportunity to acquire a highly successful complementary business which would create immediate value and facilitate growth opportunities in the US.
“The acquisition will deliver scale and diversification benefits for Pendal across investment capability, asset classes, geographies and distribution channels,” he said.
Thompson, Siegel and Walmsley operates out of Richmond, Virginia, and has $30.5 billion in funds under management.
Recommended for you
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
Franklin Templeton has reduced fees for two of its Brandywine fixed income funds and enacted a name change for its Global Income Optimiser fund.
