Perpetual acquires Financial Pursuit

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The investment giant Perpetual has completed the acquisition of the fiscal advisory practise Financial Pursuit.

Through the deal, Sydney-based Perpetual claimed its total funds under advice would rise to AUD$6.4 billion.

When completing the due diligence process, representatives from both firms could have used an online Ansarada virtual data room, which provides customisable security and restrictions on downloading and saving when viewing encrypted documents.

The company said that the takeover would help expand the company into new, "high net worth" sectors of the financial market.

John Nesbitt, group executive of Perpetual's Private Wealth, said: "This is a great partnership which brings together two businesses with a tight cultural alignment focused on the highest levels of integrity and always acting in the best interests of the client."

Founded in 1886, Perpetual claims it is one of the country's most experienced investment organisations.