– Nuveen manages $1.4 trillion in assets under management
– Schroders manages $1.1 trillion in assets under management
– Nuveen has agreed to acquire the entire issued and to-be-issued share capital of Schroders
– The board-recommended cash acquisition values Schroders at approximately £9.9 billion
– The combined group will manage nearly $2.5 trillion in assets, creating one of the largest active global asset managers
– The combined firm will operate across more than 40 markets, with strong presence in major global financial centers
– The transaction aims to combine complementary platforms, capabilities, distribution networks, and investment talent
– Bill Huffman, CEO of Nuveen, described the transaction as transformational, emphasizing the strategic fit of both firms’ platforms, distribution networks, and investment capabilities, and highlighting the opportunity to expand global reach and enhance public-to-private offerings for wealth and institutional clients
– Richard Oldfield, Group CEO of Schroders, said the partnership strengthens scale in a competitive environment, accelerates growth plans, enhances geographic reach and balance sheet strength, and broadens the range of high-quality solutions available to clients
– The deal is positioned to expand access to new markets and strengthen public-to-private investment offerings
– Schroders is expected to operate as a standalone business within the Nuveen group for at least 12 months following completion
– Richard Oldfield will remain CEO of Schroders
– Richard Oldfield will report to William Huffman, CEO of Nuveen, and join Nuveen’s Executive Management Team
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