Perpetual Acquires 70% Stake in Interfi Systems and Targets 15% Gross Debt Cut
Perpetual Corporate Trust moves to acquire Interfi Systems in bid to build end-to-end digital lending ecosystem
Perpetual Limited (ASX: PPT) has entered into a share sale deed to acquire a 70% stake in Interfi Systems Pty Ltd, a Victoria-based loan servicing technology provider to the non-bank lending sector. Separately, Perpetual expects its gross debt to decrease by approximately 15% for the period to 30 June 2026, even after accounting for the cost of the acquisition.
Interfi is an established business with around $55 billion in assets under administration (as at 30 April 2026, sourced from unaudited management accounts). The transaction is consistent with Perpetual’s stated strategy to grow Corporate Trust and expand its Digital and Markets division through organic investment, partnerships, and bolt-on acquisitions. The acquisition will be funded from internally generated cashflows, with completion expected before the end of June 2026, subject to conditions precedent.
Bernard Reilly, CEO & Managing Director, Perpetual Limited
“This transaction is in line with our strategy to invest in new capabilities in Corporate Trust to support long-term growth and retain its strong market leadership. The acquisition is expected to contribute to growth in Corporate Trust’s Digital and Markets division in FY27 and beyond.”
When big ASX news breaks, our subscribers know first
What Interfi brings to the table
A purpose-built loan servicing platform
Interfi’s platform is purpose-built to support the full life of a loan, from settlement through to discharge. It serves the non-bank lending sector and supports a broad range of lending products across its core servicing capabilities, which include:
- Loan administration
- Arrears management
- Recovery and collections
- Special servicing
- Broad range of lending product support
The integration play — Interfi meets Perpetual Intelligence
Perpetual intends to combine Interfi’s technology with its own Perpetual Intelligence platform to create a broader, integrated digital ecosystem. The intended outcome is an automated end-to-end solution covering the lending-to-securitisation workflow, which would materially extend the service offering available to Corporate Trust clients.
Richard McCarthy, Chief Executive Officer of Perpetual Corporate Trust, noted that the deal also complements the division’s core Debt Market Services business and products.
Richard McCarthy, Chief Executive Officer, Perpetual Corporate Trust
“By combining Interfi’s technology platform with our Perpetual Intelligence platform, our aim is to have a broader, integrated, digital ecosystem and accelerate our ability to offer clients an automated end-to-end solution, from lending through to securitisation. Importantly, this also complements our core Debt Market Services business and products.”
Understanding the bolt-on acquisition strategy
A bolt-on acquisition refers to the purchase of a smaller, complementary business that can be integrated into an existing operation. Rather than building a new capability from scratch, which requires significant time and capital, a company acquires a business that already has the technology, clients, and expertise in place.
For Perpetual Corporate Trust, this approach has been a consistent feature of its growth strategy over the past four years, with the Interfi transaction representing the latest in a series of bolt-on deals designed to accelerate expansion in the Digital and Markets division.
Retaining Interfi’s Founder and Managing Director, Michael Dilworth, is a material detail within the agreement. Founders typically hold deep institutional knowledge of their platforms and client relationships, and their continued involvement reduces the risk of disruption during integration and supports the long-term realisation of the acquisition’s strategic value.
Debt reduction adds a second positive to the announcement
Alongside the Interfi news, Perpetual disclosed a meaningful improvement in its gross debt position. Since 31 December 2025, the company has made progress reducing its debt load through facility repayments made late in the period. Notably, the expected ~15% reduction in gross debt is a net figure, calculated after incorporating the cost of the Interfi acquisition itself.
| Metric | As at 31 Dec 2025 | Expected change | Expected position (to 30 Jun 2026) |
|---|---|---|---|
| Gross debt | $742 million (incl. capitalised facility costs) | ~15% decrease | Subject to audit finalisation |
Investors should note that this information is subject to the finalisation of Perpetual’s financial results and audit for the period ending 30 June 2026. The fact that debt is expected to fall meaningfully even after funding the acquisition from internally generated cashflows signals a strengthening balance sheet position heading into the second half of FY26.
The next major ASX story will hit our subscribers first
What comes next for Perpetual Corporate Trust
Completion of the Interfi acquisition is expected before the end of June 2026, subject to the satisfaction of certain conditions precedent. Under the terms of the agreement, Perpetual holds an option to acquire the remaining 30% of Interfi’s shares by FY31, providing a clear pathway to full ownership as the integration matures.
Management has flagged that the acquisition is expected to contribute to growth in Corporate Trust’s Digital and Markets division from FY27 onwards. Combined with the debt reduction update, the announcement reflects a Corporate Trust business that continues to invest in its digital capabilities while simultaneously improving its financial position, building on four years of targeted bolt-on activity in the division.
Stay Ahead on ASX Fintech and Financial Services News
Breaking ASX announcements hit inboxes within minutes via Big News Blast, complete with in-depth analysis so the work is already done. Over 20,000 subscribers rely on this FREE service to stay ahead of market-moving news across finance, fintech, and beyond. Click the “Free Alerts” button to start receiving alerts the moment ASX announcements are released.