What is Perpetual Limited selling?

Perpetual Limited is selling its wealth management business.

Who is acquiring Perpetual's wealth management business?

Bain Capital is acquiring Perpetual's wealth management business.

When is the sale of Perpetual's wealth management business expected to be completed?

The transaction is expected to be completed toward the end of the 2026 calendar year.

Home / Business and Economy / Perpetual Sells Wealth Unit for A$500M

Perpetual Sells Wealth Unit for A$500M

16 Mar

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Summary

Perpetual Limited agrees to sell its wealth management business.
Bain Capital to acquire the business for A$500 million upfront.
The transaction is expected to finalize by the end of 2026.

Australia's Perpetual Limited has entered into an agreement to divest its wealth management business to private equity firm Bain Capital. The upfront cash payment for this acquisition is set at A$500 million, with potential for further performance-related adjustments before and after the transaction's completion.

This strategic divestiture represents a pivotal moment for Perpetual as it aims to simplify its corporate structure and sharpen its focus on its two primary business areas. The company had previously explored a deal with KKR for its wealth management and corporate trust units, but that arrangement was terminated in favor of this separate sale.

Perpetual Limited expects the transaction to be finalized towards the end of the 2026 calendar year, marking a significant shift in its operational strategy.

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