It is a sad day for Australian funds management. The Perpetual equities team which stood up to Woolworths, Crown, Brambles, Ramsay and IAG will have to find a new name.
The major lender is suing a fruit stall at Sydney’s Flemington Markets, alleging it conspired to falsify revenues and invoices to defraud it of $15 million.
The Wall Street titan says three megatrends that have driven Blackstone to $1.9 trillion in assets under management are now combining in a unique way.
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Shares in Perpetual slid almost 6.5 per cent on Wednesday after the $2.2 billion deal was met with scepticism from shareholders and analysts.