Funds Management News

Perpetual completes Barrow Hanley acquisition

Posted by Anton Murray Consulting on . Posted in Funds Management News


Perpetual has completed its acquisition of a 75 per cent stake in US investment manager Barrow Hanley, tripling its assets under management and expanding its reach in America. The Australian group completed its purchase of its majority interest in Barrow, Hanley, Mewhinney & Strauss (Barrow Hanley) from BrightSphere Investment Group on Wednesday, after it received approvals for the deal last week. The transaction is a step taken in Perpetual’s strategy to expand its global investment capabilities and distribution footprint, after it bought US ESG specialist Trillium Asset Management and began to build out its US-based distribution team.

Perpetual has gained US$41 billion ($58.3 billion) in assets under management (AUM) from the Barrow Hanley buy, tripling its own AUM to more than US$87 billion and adding 21 new strategies across asset classes and geographies. More than 70 per cent of Perpetual’s total assets are now managed offshore as a result, comprising 47 per cent US equities (including Trillium’s 6 per cent), 28 per cent cash and fixed income, 14 per cent Australian equities and 11 per cent global equities. Starting from the first half of next year, Perpetual is also set to introduce a new business division, Perpetual Asset Management, International, which will include the operations of Trillium and Barrow Hanley, as well as any other future international asset management functions.

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