The sharemarket updates from Perpetual are coming thick and fast as it finds itself in the crosshairs of a private equity bidder intent on upping its offer in painfully modest increments.On Wednesday, before it knocked back EQT’s latest offer of $22.50 per share, the company provided investors with a fourth-quarter update with an all too familiar story. The asset management unit was bleeding mandates by the billions as investors yanked $12 billion from Perpetual-owned funds.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Perpetual’s painful asset management odyssey
A creeping private equity takeover offer and another painful update leave the company’s long-suffering shareholders begging for the misery to end.
TL;DRAI
Perpetual's asset management unit shed $12 billion in mandates while EQT raised its acquisition bid to $22.50 per share. The exodus signals investor migration toward tech-driven wealth platforms, pressuring traditional asset managers to modernize their technology stack or risk margin compression.
96 words~1 min read
