Nuveen today announced its acquisition of Schroders for approximately £9.9 billion.
Schroders, a UK provider of active asset management, advisory, and wealth management services, currently holds $1.1 trillion in assets under management (AUM).
The transaction is expected to create one of the largest active global asset management firms, with $2.5 trillion in AUM.
According to an announcement following the acquisition, the two firms aim to design new solutions for wealth and institutional clients’ needs, including capabilities in equities, fixed income, multi-asset, infrastructure, private capital, real estate, and natural capital.
“Through this exciting and transformational step for both of our distinguished firms, we look forward to welcoming Schroders into the Nuveen family. By bringing our complementary platforms, capabilities, distribution networks, and cultures together, we will create an extraordinary opportunity to enhance the way we serve our collective clients through access to new markets, bolstered product offerings, and deeper pools of investment talent,” said William Huffman, chief executive officer at Nuveen. “This transaction is about unlocking new growth opportunities for wealth and institutional investors around the world by giving our leading, differentiated public-to-private platform a broader global presence.”
Schroders will continue to operate as a standalone business for at least 12 months after completion of the transaction.
Schroders will continue to be led by CEO, Richard Oldfield, who will report to William Huffman, CEO of Nuveen, and become a member of the Nuveen Executive Management Team.
“In a competitive landscape where scale can help deliver benefits, in Nuveen we see a partner that shares our values, respects the culture we have built and will create exciting opportunities for our clients and people,” said Richard Oldfield, group chief executive, at Schroders. “The transaction will significantly accelerate our growth plans to create a leading public-to-private platform with enhanced geographic reach and a strengthened balance sheet. Together, we can create an exceptional opportunity to provide clients with a true breadth of high-quality solutions to meet their evolving needs.”
Under terms of the transaction, each Schroders shareholder will be entitled to receive cash consideration of £5.90 per Schroders share for a total of £9.5 billion.
The transaction is expected to close during Q4 2026.