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

Why nuance matters in ESG investing

› Read more

Fed issues warning to banks over crypto-assets

› Read more

Asset managers urged to adopt uniform ESG standards

› Read more

Greenwashing concerns dampen ESG enthusiasm

› Read more

Asset managers urged to adopt uniform ESG standards

› Read more

Twitter feed

This is an exceptional Unit Pricing Analyst position, working for a highly-regarded super fund based in Melbourne on an initial 6-month contract: http://ow.ly/roiP50MK80k

Why nuance matters in ESG investing: http://ow.ly/3UjJ50MK7Ev

Our client is a leading Australian financial institution seeking an experienced and knowledgeable Treasury Operations candidate to join and lead their small Treasury Ops team: http://ow.ly/Syuv50MIBIh

Our client is a leading fund that invests directly and indirectly in all major asset classes. They are seeking candidates with performance analytics experience for a contract role in Melbourne: http://ow.ly/NyJb50MICrQ

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