Nuveen to acquire Schroders for €11.7b

Global asset manager Nuveen is set to acquire peer Schroders for approximately £9.9 bn (€11.7 bn) in cash.

Schroders Nuveen

This acquisition will create one of the largest global asset management firms, managing nearly $2.5 tn (€2.3 tn) in assets.
Both companies believe this merger will allow them to better serve clients by offering a wider range of investment solutions across public and private markets, expanding their global reach, and combining their expertise. 
Schroders will initially operate as a standalone business within Nuveen for at least 12 months, with its current CEO, Richard Oldfield, reporting to Nuveen's CEO, William Huffman. London will become the combined group's non-US headquarters.
The acquisition has been unanimously approved by both Nuveen and Schroders' boards of directors and is expected to close in the fourth quarter of 2026, pending shareholder and regulatory approvals. 
Schroders' principal shareholder group, holding approximately 41% of the shares, has already committed to voting in favour of the transaction.
William Huffman, CEO, Nuveen, commented: “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. 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.”
Richard Oldfield, Group chief executive, Schroders, added: “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 “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.”