Acquisition of
Thompson, Siegel & Walmsley

During the year, Pendal completed the acquisition of US value-oriented investment manager, Thompson, Siegel & Walmsley (TSW).

Established in 1969 and headquartered in Richmond, Virginia, TSW is a high-performing value-oriented investment firm with a long history of delivering strong investment performance for clients. Well-regarded with a stellar reputation, TSW provides investment strategies across international equities, US equities, multi-asset and fixed income.

Culturally, TSW and Pendal are strongly aligned. TSW has a long tenured and talented investment team of 20, and share the same fundamental “investment independence” philosophy. 

Like Pendal, TSW has a spirit of entrepreneurialism, with a boutique and “hands-on” feel to its business, which is appreciated by its employees and clients alike.

With strong client support and no loss of mandates or key personnel resulting from the acquisition, integration is progressing well and to plan.  

“As a result of the acquisition, we will double our addressable market in the US and extend our ability to generate new FUM through the distribution of both TSW and JOHCM products across an expanded global network.”

Nick Good
Group CEO

Strategic rationale
  • Step change in Pendal’s FUM: more than doubling US FUM to $63.9 billion.
  • Doubles Pendal's US distribution footprint and provides access to a broader base of institutional and sub-advisory relationships.
  • TSW's suite of value-oriented products provide a complementary portfolio of investment strategies for Pendal’s clients.