Bain Capital has agreed to acquire the wealth management division of Australian financial services group Perpetual in a $350 million deal. The transaction includes potential additional upfront payments tied to performance before completion and up to A$50 million in earn-outs after closing. This move underscores Bain's expanding footprint in financial services globally. Perpetual stated the sale aligns with its strategy to streamline operations and focus on core activities. The wealth management unit generated A$235.6 million in revenue in 2025, down slightly from A$226.8 million the prior year, with underlying pre-tax profit declining 5% to A$51.5 million.