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Ropes & Gray Represents BrightSphere Investment Group in Divestiture of Two Affiliates

Practices: Private Equity, Capital Markets, Tax, Asset Management, Executive Compensation & Employee Benefits, Intellectual Property

Ropes & Gray advised BrightSphere Investment Group Inc. in its divestiture of affiliates Barrow, Hanley, Mewhinney & Strauss and Copper Rock Capital Partners. BrightSphere has entered into a definitive agreement to sell its interest in Barrow Hanley to Perpetual Limited, an Australian publicly listed financial services company and has separately agreed to sell its interest in Copper Rock to Spouting Rock Asset Management and Copper Rock management.  The transactions are expected to yield approximately $335 million of after-tax proceeds to BrightSphere. The transactions were announced on July 26. The press release is here.

BrightSphere is a diversified, global asset management company with approximately $162 billion of assets under management as of March 31.

The Ropes & Gray team that represented BrightSphere was led by private equity partner Matthew Richards (Chicago), and included capital markets partner Paul Tropp (New York), tax partner Amanda Holt (Boston), asset management partner David Sullivan (Boston), employment, executive compensation & benefits partner William Jewett (Boston), and intellectual property partner Ed Black (Boston).

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