Nuveen has agreed to acquire Schroders in a board-recommended cash transaction valued at approximately £9.9 billion (US$13.5 billion).
The combination would create an asset manager with nearly US$2.5 trillion in assets under management. The firms said the transaction is intended to expand global reach and strengthen public-to-private investment capabilities. The combined group will operate with significant scale and capabilities in the world’s largest financial centres, with a presence in more than 40 markets in total.
Following completion, Schroders is expected to operate as a standalone business within Nuveen for at least 12 months. Schroders CEO Richard Oldfield will continue to lead the business and join Nuveen’s executive management team, reporting to Nuveen CEO William Huffman.
Together, Nuveen and Schroders will design new solutions to meet wealth and institutional clients’ increasingly diverse needs. This will include a breadth of capabilities acr
