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Perpetual in major US acquisition

Perpetual/acquisition/

27 July 2020
| By Mike |
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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.

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