BrightSphere Investment Group Inc. Completes Sale of Affiliates Thompson, Siegel & Walmsley, LLC and Investment Counselors of Maryland, LLC
July 22 2021 - 6:43PM
Business Wire
BrightSphere Investment Group Inc. (NYSE: BSIG) today announced
that it has completed the sale of its 75.1% ownership interest in
Thompson, Siegel & Walmsley, LLC (“TSW”) to Pendal Group
Limited (“Pendal”). Total gross proceeds to BSIG from the
transaction were approximately $240 million. In addition to
proceeds from the transaction, BrightSphere will redeem its seed
capital investments in TSW funds on or prior to October 31, 2021,
resulting in estimated additional gross proceeds of approximately
$14 million1. Total after tax net proceeds to BrightSphere from the
sale of TSW and seed capital redemptions are expected to be
approximately $196 million.
In addition to the closing of TSW, on Monday, July 19, 2021,
BrightSphere completed the sale of Investors Counselors of
Maryland, LLC to William Blair Investment Management. Financial
terms of the transaction were not disclosed.
As previously disclosed, BrightSphere anticipates closing its
other announced transaction, the sale of Campbell Global, in the
third quarter of 2021. Following the sale of Campbell Global,
BrightSphere’s sole business will be Acadian Asset Management, with
AuM of $111 billion as of March 31, 2021, which has been generating
outperformance across multiple time periods through its
quantitative strategies and solutions. As of March 31, 2021, 86%,
74%, 57%, 85% and 91% of Acadian’s strategies by revenue beat their
benchmarks over the prior QTD, 1-, 3-, 5-, and 10- year
periods.
About BrightSphere
BrightSphere is a global asset management company with one
operating subsidiary, Acadian Asset Management, with approximately
$111 billion of assets under management as of March 31, 20212.
BrightSphere offers institutional investors across the globe access
to a wide array of leading quantitative and solutions-based
strategies designed to meet a range of risk and return objectives.
For more information, please visit BrightSphere’s website at
www.bsig.com. Information that may be important to investors will
be routinely posted on our website.
1 Based on the valuation of seed capital investments in TSW
funds as of April 30, 2021. 2 Reflects the announced divestiture of
Campbell Global, LLC, and gives effect for the completed sales of
Landmark Partners LLC, Thompson Siegel & Walmsley, LLC and
Investment Counselors of Maryland, LLC.
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version on businesswire.com: https://www.businesswire.com/news/home/20210722006043/en/
Elie Sugarman ir@bsig.com (617) 369-7300
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