Henderson acquires Perennial businesses

Posted by Anton Murray Consulting on 2 Jun, 2015

Henderson Group has expanded its Australian presence with the acquisition of 100 per cent of Perennial Fixed Interest and Perennial Growth Management from IOOF.

The acquisition of the Perennial Fixed Interest and Perennial Growth Management from IOOF will increase Henderson’s assets under management (AUM) by $10.7 billion.

In a third and separate transaction, Henderson has increased its ownership of 90 West Asset Management, a global natural resources equities manager with $300 million in AUM, from 41 per cent to 100 per cent.

The three acquisitions will take Henderson’s ‘Pan Asian’ AUM to 11 per cent of the group’s total AUM, from $7.8 billion to $18.7 billion.

A statement by Henderson said the Perennial transactions would “create an opportunity to forge a strong relationship between Henderson and IOOF, one of Australia’s leading wealth management and advice platforms”.

Henderson chief executive Andrew Formica said developing the firm’s presence in Australia is a “strategic priority” for Henderson.

“These acquisitions will give us recognised domestic investment management capabilities to complement our global offering and take us into the Top 30 of Australian asset managers,” Mr Formica said.

“They help us build scale in our Australian business well ahead of our previous expectations. On completion, we will more than double our AUM from Pan Asian clients and have around 40 investment professionals based in the region, managing money on behalf of local and international investors,” he said.

“This is another important step towards achieving our ambition to become a truly global asset manager,” Mr Formica said.

IOOF retains ownership of Perennial Value (a specialist active, value-style Australian equities manager) which Henderson chose not to acquire.

InvestorDaily

Latest market insights

BNP Paribas takes all at Insignia Financial

› Read more

Aware Super goes global with UK office opening

› Read more

What LEGO can teach us about the folly of ESG inclusions

› Read more

Super funds finding it hard to avoid greenwashing

› Read more

Super funds ‘going backwards’ on climate action: Report

› Read more

X feed

What LEGO can teach us about the folly of ESG inclusions: https://ow.ly/gEIG50QbNEH

A leading full-service wealth management firm with a sizeable presence in Australia is seeking an experienced management consultant to join them for an initial 12-month contract, with a start date in late January / early February 2024: https://ow.ly/pbhU50QaAB3

Our client is a global financial services firm with an extensive presence in the Australian market, seeking experienced candidates for a contract role in Melbourne: https://ow.ly/6pMB50QaAae

We are seeking candidates a few years’ First Line of Defence Ops risk experience for a role with a global financial services firm: https://ow.ly/6fN250QaA7O

Sign up to our newsletter

Sign up to our newsletter

"*" indicates required fields

By subscribing to our newsletter I agree to the collection, use and disclosure of my personal information in accordance with our Privacy Policy