Nuveen Completes Schroders Acquisition, Creating $2.6 Trillion Asset Manager

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Summary · why it matters

Nuveen has completed its acquisition of Schroders, creating a combined firm with $2.6 trillion in assets under management across institutional and wealth channels. The combined firm says it is the only manager with a top-ten position globally in active equities, active fixed income and private markets, and operates in more than 40 markets with a significant presence in the US, UK, Europe and Asia-Pacific. Nuveen CEO William Huffman called the combination a once-in-a-lifetime opportunity to reshape the industry, while TIAA CEO Thasunda Brown Duckett said it creates one of the largest active global asset managers in the world. Over the next 12 to 18 months, Schroders will continue to operate separately within Nuveen, led by Group Chief Executive Richard Oldfield, who will report to Huffman. The firm intends to establish a unified investment platform led by Saira Malik as Chief Investment Officer, with Johanna Kyrklund becoming Chief Investment Officer of Public Markets and Solutions, and plans to organize its combined $400 billion private markets platform by asset class. London will serve as the combined firm's non-US headquarters and largest office, and existing investment teams across both asset and wealth management are intended to be maintained for at least 12 to 18 months post-completion.

Impact on assets 1

Financials▲ · 1 stocks
Schroders PLC
SDR
▲ PositiveCapitalrelevance

Schroders is acquired by Nuveen, completing a deal that folds it into a $2.6 trillion asset manager.

Off-coverage companies 2

Nuveen, LLCPrivate▲ Positive
Capitalrelevance

Nuveen completes its acquisition of Schroders, creating a $2.6 trillion combined asset manager.

Teachers Insurance and Annuity Association of AmericaPrivate▲ Positive
Capitalrelevance

TIAA's CEO endorses the deal, which creates one of the largest active global asset managers under TIAA-owned Nuveen.

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