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Fund managers acquired in billion-dollar deal
Three firms were involved in negotiating the purchase of two IOOF-owned fund managers by investment company Henderson Global Investors.
Stefanie Garber
Firms: K&L Gates (Henderson), Hall & Wilcox (employee shareholders), King & Wood Mallesons (IOOF)
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Deal: Henderson acquired Perennial Fixed Interest Partners and Perennial Growth Management, which fall under the umbrella of IOOF.
Value: $10.7 billion
Area: M&A
Key players: The K&L Gates team was led by Sydney investment management partner Liz Gray (pictured). She was assisted by partners Betsy-Ann Howe and Christa Lenard, senior associates Leslie Petro and Matthew Watts, and lawyer Edward Vassie.
Deal significance:
The acquisition will increase Henderson's assets under management by A$10.7 billion.
Ms Gray said the deal was propelled by Henderson’s long-term growth plans.
“The strategic acquisition underpins Henderson's strategy to grow and globalise and will strengthen their position in Australia and the Asia Pacific,” she said.
Henderson is listed on the LSE and ASX.
