Perpetual Wealth Management has AU$21.9 billion in Funds under Advice as at 31 December 2025 and has been operating for more than 135 years. Perpetual Group’s wealth management business services high-net worth clients, not for profits, and private businesses through brands such as Perpetual Private, Fordham, Jacaranda Financial Planning, and Priority Life.

Geoff Lloyd, the former Perpetual Group CEO from 2012 to 2018, will become the Executive Chair of the business under Bain Capital’s ownership.

Australian-based Partners Mike Murphy and Charles Lawson have led the Bain Capital investment.

Mike Murphy said: “Perpetual Wealth Management is one of the best known wealth platforms in Australia. It has industry-recognised advisers and a highly respected brand. The business is underpinned by strong and defensive Funds Under Management; the depth of client relationships and the non-discretionary nature of trust funds set the business apart from competitors.

“The business has significant growth potential through targeted investment, including in systems and technology upgrades. Bain Capital will support management to deliver that growth.”

Charles Lawson said:“The Australian wealth sector is growing strongly, underpinned by macro trends including an aging population, wage growth, and the need to manage intergenerational transfers of A$5Tn+ over coming decades. Against this backdrop, financial advice in Australia remains highly fragmented and we believe there will be opportunities to help drive consolidation through the Perpetual Wealth Management business.”

Geoff Lloyd said: “Under Bain Capital’s ownership Perpetual Wealth Management will have the freedom to modernise, to innovate, and to grow, without losing sight of the values and heritage that define it. It is an exciting opportunity to create even more value for our clients and our people.”

The current intention is to complete the sale transaction towards the end of the 2026 calendar year subject to obtaining FIRB and ACCC approvals.

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