Perpetual Trust to merge with Guardian Trust in $68.5 mln Milford Asset-backed deal

Perpetual Trust to merge with Guardian Trust in $68.5 mln Milford Asset-backed deal
April 7 (BusinessDesk) - Perpetual Trust will merge with trustee company Guardian Trust after Australian investment manager Perpetual, an unrelated firm, sold Guardian for $68.5 million. Newly formed Complectus bought Guardian Trust and will integrate the firm’s assets with Perpetual Trust, which is owned by Andrew Barnes’s Bath Street Capital. The Milford Active Growth Wholesale Fund will co-own the new firm. The sale was executed and settled on today for 100 percent cash. Barnes will run the new company as managing director, while former...