Overview
- Perpetual agreed to sell its wealth business to Bain Capital for an upfront A$500 million in cash.
- The deal includes a potential additional upfront payment tied to pre-completion advice performance and an earn-out of up to A$50 million after completion.
- The company expects the transaction to complete toward the end of calendar 2026.
- Chief executive Bernard Reilly called the sale a pivotal step to streamline the group around two core businesses.
- Perpetual will retain ownership of the Perpetual brand as the wealth operations transfer to Bain.