Barrow, Hanley, Mewhinney & Strauss, LLC Completes Deal with Perpetual Limited

Perpetual Acquires 75% Interest in Barrow Hanley from BrightSphere

Partnership Expands Barrow Hanley's Global Reach

News provided by

Nov 17, 2020, 16:41 ET

DALLAS, Nov. 17, 2020 /PRNewswire/ -- Barrow, Hanley, Mewhinney & Strauss, LLC ("Barrow Hanley") today announced that Australian Financial Firm, Perpetual Limited ("Perpetual") (ASX:PPT) has acquired a 75% interest in the US-based global investment management business from BrightSphere Investment Group Inc. ("BSIG").

Barrow Hanley has approximately US$41.0¹ billion in assets under management across US equities, global equities, global emerging markets equities, and fixed income strategies. Its team of 100 employees, including 54 investment professionals, has a strong track record of value investing, and is based in Dallas with a presence in Hong Kong.

This acquisition is consistent with Perpetual's strategy to build world-class investment capability and a global distribution footprint. It brings together two complementary investments brands, both with successful and long-term track records. By leveraging Perpetual's growing distribution capabilities, Perpetual has plans in place to drive growth in Barrow Hanley's highly rated US and global equities, global emerging market equities, and fixed income strategies, and accelerate its investment in North American and European distribution.

CEO and Executive Director of Barrow Hanley, Mr. Cory Martin said, "We are excited to formally commence our partnership with Perpetual. The response from our clients has been extremely positive and we look forward to leveraging the combination of our investment expertise and Perpetual's world-class distribution capability."

Perpetual Chief Executive Officer and Managing Director, Mr. Rob Adams said, "This is a transformational deal for Perpetual. We now have a broad range of world class investment capabilities; we have significantly diversified our AUM by client type, client location and by asset sector and; we now have multiple opportunities to drive strong future growth in AUM, with substantial capacity across those strategies.

"The successful early build-out of our US distribution team is now greatly accelerated, with 31 distribution professionals joining us through the acquisition of Barrow Hanley.

"The Barrow Hanley investment teams are truly world class, and we are delighted to partner with them to forge a strong growth path into the future."

Barrow Hanley will retain its brand and continue to operate independently with no change to its investment process or key personnel. Its existing management will continue to lead the business ensuring a commitment to their established valuation-centric approach and unwavering adherence to their time-tested, disciplined investment process. Investment and management team members will retain their 25% ownership, providing both strong alignment of goals and continuity for Barrow Hanley's clients and Perpetual.

For more information on Barrow Hanley and the firm's investment approach, strategies, and performance, visit www.barrowhanley.com.

For media inquiries, please contact:

Barrow Hanley - James Doyle at 973 944 8105 or [email protected]

Perpetual - Jon Snowball at +61 477 946 068 or [email protected]

About Barrow Hanley

Founded in 1979, Barrow Hanley is a diversified investment management firm offering value-focused investment strategies spanning global equities and fixed income. Recognized as one of the few remaining firms dedicated exclusively to value investing, Barrow Hanley enjoys a boutique culture with a singular focus to assist clients in meeting their investment objectives. Today, Barrow Hanley has approximately 100 employees (54 investment professionals) and manages $41.0¹ in assets for a variety of clients. Barrow Hanley stewards the capital of corporate, public, multi-employer pension plans, mutual funds, endowments and foundations, and sovereign wealth funds across North America, Europe, Asia, Australia and Africa. For further information, please visit www.barrowhanley.com.

About Perpetual

Perpetual is a financial services group operating in funds management, financial advisory and trustee services. Our origin as a trustee company, coupled with our strong track record of investment performance, has created our reputation as one of the strongest brands in financial services in Australia. For further information, visit www.perpetual.com.au.

¹Total assets under management (AUM) as of 10/31/20; net of clients who have terminated or confirmed their intention to terminate

SOURCE Barrow Hanley