Pinnacle considered play for Perpetual as EQT closes in on $2.6b deal
The passing interest has emerged as Swedish private equity fund EQT makes its third non-binding indicative offer for Perpetual in July alone.
Multi-affiliate funds firm Pinnacle Investment Management considered a play for Perpetual in 2025, adding a new layer of intrigue to the long running saga involving the storied investment house.
Pinnacle’s passing interest has emerged after Perpetual announced it had fielded an improved $2.6 billion takeover offer from its longtime suitor, Swedish private equity firm EQT, on Monday and as market speculation over possible rival bids mounts.
Pinnacle in 2025 considered acquiring either all of Perpetual or just its Australian equities business before scrapping the idea, according to a source with direct knowledge of the situation who requested anonymity to discuss confidential details. Pinnacle did not get as far as appointing advisers and is not currently considering a Perpetual deal, the person said.
A Perpetual spokesperson told Capital Brief that they were not aware of Pinnacle’s previous interest. Pinnacle declined to comment.
