Perpetual has bought a 75% stake in US asset manager Barrow Hanely, for $319 million.

Perpetual has bought a 75% stake in US asset manager Barrow Hanely, for $319 million. The Australian fund manager will triple their funds under management to $66 billion, as they aim to expand their global footprint.

"This is a compelling acquisition. It provides Perpetual with world-class investment teams, diversifies our client base by sector and geography, and presents us with significant growth opportunities."

Perpetual Managing Director Rob Adams