Oaktree Capital Management is acquiring the wealth management arm of Perpetual Ltd. to strengthen its position in Australia's financial services sector, utilizing private credit financing from Ares Management and Barings.

Information on the Target

Oaktree Capital Management is in the process of acquiring the wealth management arm of Perpetual Ltd., an established Australian fund manager. The transaction will be facilitated via AZ Next Generation Advisory (AZ NGA), a firm that Oaktree previously acquired in December 2024, utilizing a private credit financing arrangement from Ares Management and Barings. This strategic acquisition aims to enhance the capabilities of AZ NGA by merging Perpetual's wealth division, which caters to both retail and high-net-worth clients.

The combination of these entities is expected to create one of Australia’s largest independent wealth management platforms, thereby significantly elevating the service offerings and market presence of the newly formed entity.

Industry Overview in Australia

The Australian financial services sector has seen a marked increase in interest from global investors, particularly in the A$4.3 trillion pension and wealth management space. This industry is not only one of the fastest-growing capital pools globally but also cont