DALLAS, July 27, 2020 /PRNewswire/ -- Barrow Hanley,
Mewhinney & Strauss, LLC ("Barrow Hanley") announced today that
it has entered into an agreement to be acquired by Australian
Financial Firm Perpetual Limited ("Perpetual")(ASX:PPT) from
BrightSphere Investment Group (NYSE: BSIG).
This acquisition is consistent with Perpetual's strategy to
build world-class investment expertise and capability and brings
together two complementary investment management firms, both with a
long track record of value investing and common principles. Barrow
Hanley will retain its brand autonomy and continue to operate
independently with no change to its investment teams and
philosophy. Its existing management will continue to lead the
business ensuring a commitment to their established
valuation-centric approach and unwavering adherence to their
time-tested, disciplined investment process.
CEO and Executive Director of Barrow Hanley Mr. Cory Martin said, "We are confident that we have
found the perfect partner and complementary culture to continue our
shared mission of delivering competitive investment results with a
resolute commitment to clients. This strategic partnership offers
the opportunity to further develop our current growth
initiatives and to reinvest in our business while maintaining our
focus on successfully managing client portfolios. We appreciate the
team at BrightSphere for their many years of supporting both Barrow
Hanley and our client partners."
This partnership bolsters Perpetual's growth plans for the
Americas, Europe and around the
globe. Additionally, it provides an opportunity for Barrow
Hanley to offer its proven investment strategies to Australian,
Asian and Pan-Pacific retail and institutional investors.
"Perpetual's Australian footprint and offices in
Singapore, Boston, San
Francisco and Portland,
coupled with Barrow Hanley's existing offices in Dallas, London and Hong
Kong, will greatly enhance our firm's ability to serve our
clients globally while providing direct local access to these
growing markets. The strategic and cultural alignment is clear and
we are excited about our future together," Mr. Martin said.
Perpetual Chief Executive Officer and Managing Director, Mr.
Rob Adams said: "This is a
compelling acquisition. It provides Perpetual with world-class
investment teams, diversifies our client base by sector and
geography, and presents us with significant growth opportunities in
the Australian market and a formidable platform to scale our
business internationally.
"Barrow Hanley has a 40-year track record of value investing
with a highly regarded brand, an experienced and invested
management team and a broad, blue-chip, institutional client base;
many of whom have been with the company for more than 20 years.
"Having been an investor in Barrow Hanley's global equities
strategy since 2016 via our Perpetual Private business, we have
been impressed with the rigor of their investment process and
quality of their investment professionals. We have developed a
strong relationship with the Barrow Hanley team and developed
an in-depth understanding of their business and see an alignment in
our goals. We look forward to expanding this relationship and
applying our strong distribution experience and capabilities to
help grow their business," Mr. Adams said.
The transaction is expected to be completed in the fourth
quarter of 2020 subject to regulatory and other customary
approvals.
For media inquiries, please contact:
Barrow Hanley
James Doyle
973 944 8105
jdoyle@jconnelly.com
Perpetual
Jon Snowball
+61 477 946 068
jon@domestiqueconsulting.com.au
About Barrow Hanley
Founded in 1979, Barrow Hanley is a diversified investment
management firm offering more than 25 value-oriented investment
strategies spanning global equities and US fixed income. Recognized
as one of the remaining true, traditional value firms, Barrow
Hanley enjoys a unique boutique culture whose singular focus
remains to assist clients in meeting their investment objectives,
by providing consistent value exposure utilizing our proven
philosophy. Today, Barrow Hanley has around 100 employees
(including 55 investment professionals) and manages $44.1B in assets for a variety of clients
including corporate, public, multi-employer pension plans, mutual
funds, endowments and foundations, and sovereign wealth funds
across North America, Europe, Asia,
Australia and Africa. For further information, please visit
www.barrowhanley.com.
About Perpetual
Perpetual is a financial services group operating in funds
management, financial advisory and trustee services. Our origin as
a trustee company, coupled with our strong track record of
investment performance, has created our reputation as one of the
strongest brands in financial services in Australia. Perpetual recently acquired
Boston-based ESG investment
manager, Trillium Asset Management as part of its strategic plan to
build-out investment capabilities in the US for the betterment of
our clients. For further information, visit
www.trilliuminvest.com and www.perpetual.com.au.
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SOURCE Barrow Hanley