Bain Capital has acquired Perpetual Wealth for $550.0 million, marking a significant corporate acquisition in the financial services sector. Perpetual Wealth, which celebrated its 30th anniversary in 2023, has evolved from its founding in August 1993 into a leading innovator in financial services, known for navigating various market trends and developing advanced solutions.
Perpetual Wealth's journey includes the creation of a family of nine businesses by 2015, unified under Benchmark Capital, which was subsequently sold to Schroders in 2021. Following this, Perpetual Wealth retained its Family Capital business, continuing to manage wealth with a focus on personal connections. Its latest achievement, the Wealth Portal, encapsulates three decades of innovation, offering intuitive and connected adviser technology designed to empower financial services. The company is committed to breaking new ground in technology and financial services, aiming to forge sustainable solutions and partnerships based on honesty, integrity, and innovation.
This acquisition is a strategic move for Bain Capital to integrate Perpetual Wealth's established technology and deep expertise within the financial services landscape. Perpetual Wealth's innovative platforms, particularly the Wealth Portal, and its long-standing commitment to evolving financial solutions, are expected to complement Bain Capital's investment strategy in the sector.
The combined entity is anticipated to leverage Perpetual Wealth's vision for intuitive and empowering financial services with Bain Capital's strategic resources. This collaboration is poised to accelerate the development and reach of Perpetual Wealth's offerings, fostering further innovation in wealth management technology. The outlook for the combined entity focuses on expanding its impact and continuing to create a more prosperous, transparent, and equitable financial future through advanced solutions and strategic partnerships.