SYDNEY: Australian financial services firm Perpetual Limited (PPT.AX) has entered into a binding agreement to sell its wealth management business to Bain Capital Private Equity for up to A$550 million ($364 million), the company said on Monday, as it moves to simplify its operations and strengthen its balance sheet. The deal includes an upfront cash…
SYDNEY, AUSTRALIA: Washington H. Soul Pattinson and Company (WHSP), a diversified investment company and a large shareholder of Perpetual Limited, has made an indicative proposal to acquire 100% of Perpetual and demerge its asset management business, Perpetual Asset Management (PAM), to existing Perpetual shareholders. WHSP would retain the other two businesses including Perpetual Wealth Management…
SYDNEY, AUSTRALIA: Perpetual Limited has announced the acquisition of Jacaranda Financial Planning Pty Ltd, a leading Sydney and Melbourne based boutique wealth advisory firm focused on the high net worth market segment with funds under advice (FUA) of $915 million as at 30 June 2021. Perpetual Chief Executive Officer and Managing Director, Rob Adams said:…
PERTH: Perpetual Limited has entered into an agreement with BrightSphere Investment Group Inc. (BSIG) to acquire BSIG’s 75% interest in Barrow Hanley for US$319 million, a news release said. Based in Dallas, Barrow Hanley is a diversified investment manager with funds under management (FUM) of approximately US$44.1 billion across 21 key strategies. Barrow Hanley has…