Regal Partners, an investment manager, and EQT-backed Baring Private Equity Asia, a private equity firm, offered to acquire Perpetual, a Sydney-based money manager, for $1.12bn. “Together with the BPEA EQT Fund, we are seeking Perpetual’s engagement to develop the Proposal further, including through due diligence and the development of transaction documentation. We hold the Perpetual Asset Management investment teams in high regard and look forward to the opportunity to engage with the key personnel who we view as critical to the success of the asset management business going forward," Brendan O’Connor, Perpetual CEO and Managing Director.