Pendal bets on value trade with $413m buy
Richard HendersonReporter
Pendal Group has agreed to buy a mid-sized US value fund manager for $413 million in a big bet on the cyclical trade sweeping equity markets around the world.
Sydney-based Pendal will take full control of Virginia-based fund manager Thompson, Siegel & Walmsley in an acquisition backed by new debt facilities and a $190 million institutional placement of shares.
Loading...
Richard Henderson is a markets reporter based in our Melbourne newsroom. Connect with Richard on Twitter. Email Richard at richard.henderson@afr.com.au
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Equity markets
Fetching latest articles