Perpetual has successfully completed its acquisition of a 75% interest in US-based investment management business, Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley) from BrightSphere Investment Group Inc.
Based in Dallas, USA, Barrow Hanley has a strong track record of value investing over 40 years and manages assets across US equities, global equities, global emerging markets equities and fixed income strategies.
The acquisition of Barrow Hanley is an important step in Perpetual’s strategy to build world-class investment capabilities and a global distribution footprint. It builds on our successful acquisition of Trillium Asset Management (Trillium) an ESG investment specialist, and the build-out of its US-based distribution team.
Perpetual Chief Executive Officer and Managing Director, Rob Adams said, “This is a transformational deal for Perpetual. We now have a broad range of world class investment capabilities; we have significantly diversified our assets under management (AUM) by client type, client location and by asset sector; and we now have multiple opportunities to drive strong future growth in AUM, with substantial capacity across those strategies.
Like Trillium, the Barrow Hanley investment teams are truly world class, and we are delighted to partner with them to forge a strong growth path into the future.”
TRANSFORMATIONAL OPPORTUNITY BARROW HANLEY IS A COMPELLING Acquisition for Perpetual shareholders
- Global investment capabilities
- Enhance & broaden distribution
- Strong investment performance
- Cultural alignment
- Financially compelling transaction
- Management alignment
- Transformational opportunity for Perpetual
- Europe and the Far East (EAFE).
- Transition pending Financial Conduct Authority (FCA) approval.
- See Appendix i for further information on Barrow Hanley performance as at 30 June 2020 (refer to the Equity Raising July 2020 presentation).
- EPS and DPS accretion is based on UPAT on an annualised basis from the date of completion. EPS calculations exclude any shares issued under the SPP. Refer section 4 for further information and for the definition of UPAT (refer to the Equity Raising July 2020 presentation).