Pendal takes 100% of Regnan
Pendal Group has taken full control financial services governance and research firm, Regnan.
The asset manager, which was a co-founder of Regnan, told the Australian Securities Exchange today that it would be acquiring the remaining 50 per cent stake in Regnan bringing its ownership to 100 per cent with the other co-founder, Commonwealth Superannuation Corporation ceasing to be a shareholder.
It said that making Regnan part of Pendal would enhance Regnan’s capability and service proposition to its clients by enabling it to leverage the fundamental insights of a highly-regarded investment management organisation across equities, fixed income and multi-asset portfolios.
Commenting on the transaction, Pendal Australia chief executive, Richard Brandweiner said full ownership would allow the firm to further supports its clients on their journey to fully embed ESG into their frameworks.
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