News

Pacific Current Group Ltd said Oct. 4 that it closed the sale of its stake in Aperio Group. Pacific Current received $71.9 million in pre-tax proceeds and expects to receive another $2.6 million. Pacific Current invested in Aperio, a Sausalito, California investment management firm, in 2015, according to press reports. Golden Gate Capital acquired a majority of Aperio in August.

PRESS RELEASE

SYDNEY (4 October 2018) – Pacific Current Group Limited (ASX: PAC) is pleased to announce the completion of the sale of its interests in Aperio Group. Today, PAC received US$71.9 million of sale proceeds (pre-tax) and expects to receive an additional US$2.6 million on 5 October 2018, which represents PAC’s share of Aperio’s income through 3 October 2018. “Today ends a short, albeit very successful investment for PAC,” said PAC CEO Paul Greenwood. “We feel privileged to have invested in a company of Aperio’s calibre, and we have no doubt the firm will continue to deliver the superior products and service it has become so well known for.”