Perpetual in major US acquisition
Major investment house, Perpetual has announced the acquisition of 75% of US-based investment business, Barrow, Hanley, Mewhinney and Strauss.
The company said the transaction was valued at $465 million with the stake being acquired from BrightSphere Investment Group.
Perpetual will be entering a capital raising via an institutional placement and a share placement to fund the acquisition.
Explaining the move, Perpetual said it would add scale and deliver multiple world-class investment capabilities with funds under management (FUM) of $US44.1 billion ($62.15 billion) across 21 key strategies.
The announcement said the acquisition would significantly increase Perpetual’s US distribution reach and accelerate the build-out of the company’s global distribution capabilities.
Recommended for you
LGT Wealth Management is maintaining a neutral stance on US equities going into 2026 as it is worried whether the hype around AI euphoria will continue.
Tyndall Asset Management is to close down the Tyndall brand and launch a newly-branded affiliate following a “material change” to its client base.
First Sentier has launched its second active ETF, offering advisers an ETF version of its Ex-20 Australian Share strategy.
BlackRock has revealed that its iShares bitcoin ETF suite has now become the firm’s most profitable product line following the launch of its Australian bitcoin ETF last month.
