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Laxman Pai, Opalesque Asia: Boston-based Environmental-social-governance (ESG) equity and fixed-income money manager Trillium Asset Management agreed to be acquired by Australian-based Perpetual Ltd.
Perpetual will purchase 100% of the employee-owned Trillum for $36 million-plus an earnout. The acquisition should close by June, pending regulatory and other approvals.
Perpetual plans to sell Trillium's environmental, social and governance investments to more investors in Australia, and plans to expand into new regions including Asia-Pacific, the Middle East, and Europe, the sustainable-investment firm said in a press note.
Trillium Asset Management, with $3.8 billion in assets under management, will maintain its name, autonomy, and structure, said John Quealy, Trillium's chief investment officer. Trillium's products include offerings of US equity and fixed income and global equity investments.
Matthew Patsky, CEO of Trillium said, "With an 18-year history in ESG investing and over a century-long commitment to community engagement and philanthropy, Perpetual is the right partner to help foster our mission."
"With ESG investing rapidly gaining momentum among individual and institutional investors alike, this partnership will enable us to continue to be at the forefront and to push the envelope on impact. This transaction will provide us with additional resources that we can use to better meet the evolving expectations of our clients, shareholders, employees...................... To view our full article Click here
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