InvestmentsNov 2 2015

Henderson snaps up Australian asset managers

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Henderson snaps up Australian asset managers

Henderson completes acquisitions of Perennial Fixed Interest, Perennial Growth Management - now focused on organic growth in Australia.

In a stock exchange announcement today (2 November), confirmed it has now completed the purchase of two Australian asset managers that had combined assets under management of £5bn (A$10.8bn) at the end of September.

Rob Adams, executive chairman for Pan Asia for Henderson, said: “We are pleased to have completed these important transactions.

“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.

“We are also delighted to have been able to strengthen the support we provide our investment teams and the service we offer to clients through a number of additional high-quality hires.”

It was back in June that Henderson announced it was buying the Perennial businesses as well as snapping up the remaining 59 per cent of 90 West Asset Management that it did not already own.

Back in June broker Numis Securities said on a conference call following the announcement of the deal that Henderson “implied that it paid c.£50m” in total for the three firms.