Perpetual facing break-up as reports say KKR wins through
Perpetual Limited is reported to be facing being broken up with the company expected to announce to the Australian Securities Exchange today the terms of a transaction with major private equity player, KKR.
The reports say that the transaction, which has been on foot for weeks, will see Perpetual continue as a funds management business with KKR taking the firm’s corporate trust and wealth businesses.
The expected announcement is consistent with the outcome of a Strategic Review initiated by the Perpetual Board five months’ ago.
The transaction in regarded as in large measure reflecting market unease as Perpetual’s 2022 acquisition of funds management rival, Pendal.
KKR already has a solid foothold in the Australian financial services sector via its acquisition of Colonial First State from the Commonwealth Bank.
Digital advice is just a sales tool to sell product. Much the same as the unqualified 'qualified' adviser/sales/call centre jockey…
You've nailed the crux of the issue and the biggest slap in the face in all of this. Despite all…
Another example of highly concerning outcomes which come from ill-defined or open to interpretation legislation. I would like to think…
Dear FAAA We're also disappointed...in you.
Uni Super already does right now, they allow internal advisers to charge clients super funds for advice but doesn't allow…