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Van Eyk Acquires Perpetual NZ's Asset, Personal Wealth Units
Van Eyk, the Australian investment research firm, has completed its takeover of Perpetual New Zealand Companies from Pyne Gould.
The sale process, which covers Perpetual Asset Management and Perpetual Portfolio Management, was first announced in January by Pyne Gould, who then said van Eyk would also be buying succession planning firm Perpetual Trust from it. This part of the deal is no longer proceeding.
The present takeover increases van Eyk's consolidated gross annual revenue by around 50 per cent. Perpetual Asset Management has some NZ$380 million ($317 million) in funds under administration. Perpetual Portfolio is the personal wealth unit of the Perpetual Group.
Perpetual NZ Companies are not related to Perpetual Limited, the Australian asset management company.