Nuveen to Acquire Schroders in $13.5B Deal
What happened
US-based asset manager Nuveen has agreed to acquire UK-based Schroders for approximately $13.5 billion (£9.9bn). The deal will create a global asset management firm with a combined $2.5 trillion in assets under management. The acquisition is seen as a move by Nuveen to bolster its public-to-private investment offerings.
Why it matters
- The acquisition ends over 220 years of family control for the UK-based Schroders, which was founded in 1804. The Schroder family held a 44% stake in the company. - Chicago-based Nuveen was founded in 1898 and is the wholly owned asset management subsidiary of TIAA (Teachers Insurance and Annuity Association of America). - Post-acquisition, Schroders Group CEO Richard Oldfield will continue in his role and report to Nuveen CEO William Huffman. Oldfield was appointed CEO in November 2024. - The combined firm will manage a significant $414 billion in private markets assets, making it one of the ten largest pools of illiquid capital globally. - The deal represents a 34% premium to Schroders' closing share price on February 11, 2026, with shareholders receiving up to 612 pence per share. - Schroders previously divested its investment banking division to Citigroup for £1.3 billion in 2000 to concentrate on asset and wealth management. - Nuveen's current CEO, William Huffman, has been with the firm since 2008 and previously served as the president of Nuveen Asset Management and head of equities and fixed income. - Following the merger, Schroders is expected to operate as a standalone business within Nuveen for at least one year, with London remaining as the group's largest office outside of the U.S.
Key numbers
- US-based asset manager Nuveen has agreed to acquire UK-based Schroders for approximately $13.5 billion (£9.9bn).
- The deal will create a global asset management firm with a combined $2.5 trillion in assets under management.
- - The acquisition ends over 220 years of family control for the UK-based Schroders, which was founded in 1804.
- The Schroder family held a 44% stake in the company.
What happens next
- Post-acquisition, Schroders Group CEO Richard Oldfield will continue in his role and report to Nuveen CEO William Huffman.
- The combined firm will manage a significant $414 billion in private markets assets, making it one of the ten largest pools of illiquid capital globally.
- Following the merger, Schroders is expected to operate as a standalone business within Nuveen for at least one year, with London remaining as the group's largest office outside of the U.S.
Quick answers
What happened in Nuveen to Acquire Schroders in $13.5B Deal?
US-based asset manager Nuveen has agreed to acquire UK-based Schroders for approximately $13.5 billion (£9.9bn). The deal will create a global asset management firm with a combined $2.5 trillion in assets under management. The acquisition is seen as a move by Nuveen to bolster its public-to-private investment offerings.
Why does Nuveen to Acquire Schroders in $13.5B Deal matter?
The acquisition ends over 220 years of family control for the UK-based Schroders, which was founded in 1804. The Schroder family held a 44% stake in the company. Chicago-based Nuveen was founded in 1898 and is the wholly owned asset management subsidiary of TIAA (Teachers Insurance and Annuity Association of America). Post-acquisition, Schroders Group CEO Richard Oldfield will continue in his role and report to Nuveen CEO William Huffman. Oldfield was appointed CEO in November 2024. The combined firm will manage a significant $414 billion in private markets assets, making it one of the ten largest pools of illiquid capital globally. The deal represents a 34% premium to Schroders' closing share price on February 11, 2026, with shareholders receiving up to 612 pence per share. Schroders previously divested its investment banking division to Citigroup for £1.3 billion in 2000 to concentrate on asset and wealth management. Nuveen's current CEO, William Huffman, has been with the firm since 2008 and previously served as the president of Nuveen Asset Management and head of equities and fixed income. Following the merger, Schroders is expected to operate as a standalone business within Nuveen for at least one year, with London remaining as the group's largest office outside of the U.S.
