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
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
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.