GQG to counter Regal’s PAC bid, Perpetual suffers outflows
Jonathan ShapiroSenior reporter
A bidding war between two of the market’s top fund managers has broken out after GQG Partners vowed to counter a $555 million bid lobbed by Regal Partners for Pacific Current Group.
Meanwhile, the merits of another merger – last year’s combination of Perpetual and Pendal – is in further doubt after the bulked-up Perpetual revealed worse than expected redemptions in the second quarter.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
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