Perpetual Limited has completed its 100% acquisition of specialist environmental, social and governance (ESG) investment firm Trillium Asset Management.
Based in Boston, US, Trillium had over AU$5.7 billion in funds under management and offered equity, fixed income and alternative ESG investment strategies with the goal of providing impact investing with long-term value.
Perpetual said it was on-track to meet investor demands with plans to launch new Trillium ESG offerings in Australia in the first half of FY21.
Rob Adams, Perpetual managing director and chief executive, said the acquisition of Trillium materially increased Perpetual’s exposure to the ESG segment.
“The interest in ESG globally has accelerated in recent times as a consequence of the COVID-19 pandemic, as well as locally with the extreme climate events experienced in Australia,” Adams said.
Trillium would retain its board and operate independently from Perpetual with its own advisory board, led by chief executive, Matt Patsky.
“The combination of Trillium’s expertise in developing contemporary, in-demand ESG investment products and Perpetual’s deep and trusted relationships with investment advisers, represents a compelling opportunity as we launch Trillium into new markets, beginning with Australia in the coming months,” Patsky said.