Henderson Group has completed its acquisition of Perennial Fixed Interest Partners and Perennial Growth Management from IOOF.
The acquisition of Perennial Fixed Interest Partners and Perennial Growth Management from IOOF, which was announced on 2 June 2015, will increase Henderson’s assets under management by $10.8 billion, a statement issued by the firm said.
Henderson Pan Asia executive chairman Rob Adams said: “Henderson’s business in Australia now has four locally based investment teams, whose highly regarded experience and expertise in the domestic markets will perfectly complement our global offerings.”
“Our focus at Henderson is now on growing our business in Australia organically, capitalising on our expanded team.”
Perennial head of Australian fixed income Glenn Feben said: “We’ve been impressed with the process of integrating our business into Henderson thus far.
“Our team is pleased to be part of a deeply resourced global fixed income team, with well-supported systems, which will result in further benefits for our clients,” he said.
According to the statement, the two acquisitions are a part of the firm’s strategy to grow its business and provide the firm with extended distribution reach.
Perennial head of Australian equities Lee Mickelburough said: "To be able to focus solely on managing our clients' assets, leveraging off specialist business support teams, is a significant step forward for us as part of the global Henderson footprint."