Environmental-social-governance equity and fixed-income money manager Trillium Asset Management agreed to be acquired by Australian-based Perpetual Ltd., confirmed John Quealy, Trillium’s chief investment officer.
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, in acquiring Trillium, will "assist in bringing Trillium's ESG-focused products to a broader investor base in Australia and intends to expand into new markets across the Asia-Pacific, Middle East and Europe," a news release said.
Trillium Asset Management, based in Boston with $3.8 billion in assets under management. will maintain its name, autonomy and structure, Mr. Quealy said.