All conditions have been met for the Australian company’s $465 million purchase of the majority interest in Barrow, Hanley, Mewhinney & Straus LLC (Barrow Hanley) from BrightSphere Investment Group.
It is now anticipated the transaction will close on or close to 18 November, earlier than its previous 30 November deadline.
Upon completion, Perpetual has promised to host an investor briefing, before it reveals more its global distribution strategy at its investor day on 9 December.
Perpetual has previously said the purchase will more than triple its funds under management (FUM) from $28.4 billion to $92.3 billion.
After the acquisition, Perpetual’s FUM will be comprised of 14 per cent Australian equities, 48 per cent US equities (inclusive of 6 per cent from its other recent purchase, Trillium), 11 per cent global equities and 27 per cent cash and fixed income.
