Consolidation activity in sustainable investing continues, as Australian financial services firm Perpetual Limited announced today that it has completed the acquisition of Boston-based ESG investment manager Trillium Asset Management.
With over $3.8 billion in assets under advisement, Trillium was a pioneer in responsible investing among the earliest developers of the ESG investment field, and the among first generation of investors focused on improved environmental, social, and governance outcomes. Trillium says that its commitment to active ownership and shareholder advocacy has contributed to concrete and positive change.
The deal was originally announced in January 2020, with Perpetual agreeing to acquire Trillium for $36 million. Since announcing the acquisition, Perpetual has continuing out an experienced, U.S.-based distribution team to drive Trillium’s growth in North America and expand into new markets globally over time, including Asia Pacific, the Middle East and Europe.
Trillium will retain its brand and operate independently with its own management team and advisory board led by CEO Matthew Patsky. The investment, advocacy and private client groups all remain committed and aligned to meet clients’ objectives and dedicated to amplifying their impact.
“We found the right partner in Perpetual with their 18-year history in ESG investing and century-long commitment to community engagement and philanthropy. Clients around the world are increasingly demanding investment opportunities that provide both a positive long-term ESG impact and positive returns. The additional resources bring global scale to our business, enhance distribution capabilities and support our objective of delivering market-competitive strategies that align with the values, impact goals and investment objectives of clients.”
Perpetual Managing Director and CEO, Rob Adams, said:
“Our acquisition of Trillium materially increases Perpetual’s exposure to the fast growing ESG segment. The interest in ESG has accelerated globally in recent times due to the COVID-19 pandemic as well as extreme climate events, all contributing to the positive momentum of true, integrated ESG investing fast becoming mainstream.”