Nuveen, a global asset manager with US$1.4 trillion in assets under management, has agreed to acquire Schroders, a leading active asset management and wealth services provider with $1.1 trillion in assets under management, in a board‑recommended all‑cash transaction valued at approximately £9.9 billion.
The combination will create one of the world’s largest active asset managers, with nearly $2.5 trillion in assets under management and a presence in more than 40 markets worldwide.
The transaction brings together two highly complementary firms, creating expanded scale, broader global reach, and enhanced capabilities across public and private markets. The combined group aims to deliver a strengthened offering for both institutional and wealth clients, leveraging deeper investment talent, broader distribution networks, and more diversified product platforms.
William Huffman, chief executive officer of Nuveen, described the acquisition as a transformational step for both organisations. “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,” he said. Huffman emphasised that the combined entity will unlock new growth opportunities for investors globally by extending the reach of Nuveen’s differentiated public‑to‑private platform.
Richard Oldfield, group chief executive of Schroders, highlighted shared values and the growth potential of the combined firm. “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,” Oldfield said. “Together, we can create an exceptional opportunity to provide clients with a true breadth of high-quality solutions to meet their evolving needs.”
Following completion, Schroders will operate as a standalone business within Nuveen for at least 12 months. Oldfield will continue as CEO of Schroders, reporting to Huffman and joining the Nuveen Executive Management Team.
