Nuveen agreed on 12 February to acquire Schroders in a board-recommended cash deal worth about £9.9bn, combining $1.4trn and $1.1trn of assets under management.
Why Nuveen, LLC is buying Schroders plc
Nuveen said the combination creates one of the largest active asset managers, with nearly $2.5trn of assets and a presence in more than 40 markets, spanning public and private markets alongside Schroders' wealth business.
“Through this exciting and transformational step for both of our distinguished firms, we look forward to welcoming Schroders into the Nuveen family.”
Deal terms and financing
Shareholders receive 590p a share in cash, about £9.5bn in total, and may keep dividends of up to 22p before completion. Schroders' principal shareholder group trustee companies, holding about 41% of the shares, irrevocably undertook to vote in favour.
Regulatory approvals and timing
The scheme needed shareholder, antitrust and regulatory approvals. Shareholders approved it in April 2026, the court sanctioned it on 29 September and it became effective on 1 October 2026, according to Schroders' offer page.
Market context
Nuveen expects London to be the combined group's non-US headquarters and largest office, with more than 3,100 staff. Schroders chief executive Richard Oldfield stays on, reporting to Nuveen chief executive William Huffman.
