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**Nuveen to Acquire Schroders in $13.5 Billion Deal, Creating $2.5 Trillion Asset Management Giant**
In a landmark deal set to reshape the global asset management industry, Nuveen and Schroders have announced a board-recommended agreement in which Nuveen will acquire Schroders for approximately £9.9 billion (about $13.5 billion). The merger will combine Nuveen’s $1.4 trillion in assets under management with Schroders’ $1.1 trillion, forming a nearly $2.5 trillion global powerhouse.
Under the terms of the agreement, Schroders shareholders will receive £5.90 per share in cash, valuing the firm’s equity at approximately £9.5 billion. Shareholders may also receive up to 22 pence per share in permitted dividends before the transaction closes.
The transaction will create one of the world’s largest active asset managers, significantly bolstering capabilities across a broad spectrum of investment strategies, including equities, fixed income, multi-asset, infrastructure, private capital, real estate, natural capital, and wealth management.
“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,” said William Huffman, CEO of Nuveen.
Richard Oldfield, Group CEO of Schroders, highlighted the strategic benefits of the deal, saying, “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.”
Following the merger, Schroders will continue to operate as a standalone business within Nuveen for at least 12 months. Richard Oldfield will remain as CEO of Schroders and join Nuveen’s executive management team. London will serve as the combined group’s non-U.S. headquarters.
The deal is expected to close in the fourth quarter of 2026.
BNP Paribas is serving as the financial advisor to Nuveen, while Clifford Chance LLP is providing legal counsel.
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