Henderson acquires Australia-based investment firms

November 19, 2015

On November 2, 2015, Henderson Group Plc announced the acquisitions of Perennial Fixed Interest Partners Pty Ltd, Perennial Growth Management Pty Ltd, and 90 West Asset Management Pty Ltd.

Henderson Group Plc (“Henderson”) will acquire the three Perennial entities— which combine for AUD$10.7 billion in assets under management— from IOOF Holdings Ltd (“IOOF”). IOOF will receive both upfront cash consideration and a deferred payment under the terms of the transaction, which deferred payment will depend on future business performance. The transaction is expected to close in the fourth quarter of 2015.

Henderson also announced that it acquired a 100% stake in 90 West Asset Management Pty Ltd. (“90 West”). Henderson had previously owned a 41% interest in 90 West. The acquisition raises Henderson’s assets under management in global natural resource equities by AUD$300 million. The 90 West deal closed on May 29, 2015.

The combination of these transactions raises Henderson’s Pan Asian footprint to 11% of its total assets under management.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions