Australian asset manager Perpetual Limited announced Wednesday it finalized its acquisition of Trillium Asset Management, a sustainable-investment firm that listed approximately $3.3 billion in managed assets on its most recent Form ADV.
The completed acquisition will drive Trillium, an investment advisory firm exclusively focused on environmental, social and governance investing since 1982, to scale its business in North America with an eye toward global expansion, said company CEO Matthew Patsky in a statement.
“Clients around the world are increasingly demanding investment opportunities that provide both a positive long-term ESG impact and positive returns," Patsky said in a release, adding that the additional resources bring global scale to the business and enhance distribution capabilities.
Over time, Trillium plans to enter new markets including Asia Pacific, the Middle East and Europe, according to the announcement. The firm will retain its brand and operate independently with its own management team and advisory board led by Patsky.
[Interested in even more ESG news? Check out InvestmentNews’ ESG Clarity US]
The acquisition is mutually beneficial as Perpetual builds out a U.S.-based distribution team to drive Trillium’s growth in North America which, in turn, will “increase Perpetual's exposure to the fast growing ESG segment," said Perpetual Managing Director and CEO, Rob Adams in the statement.
“The interest in ESG has accelerated globally in recent times due to the COVID-19 pandemic as well as extreme climate events, all contributing to the positive momentum of true, integrated ESG investing fast becoming mainstream," Adams said.
Perpetual announced Jan. 30 it agreed to buy Trillium for $36 million, Bloomberg reported.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
