On February 12, 2026, US asset manager Nuveen announced an agreement to acquire Schroders, a 222-year-old British investment firm, for £9.9 billion. Shareholders will receive £5.90 per share in cash plus up to 22 pence in dividends, representing a 34% premium to the previous day's closing price. The founding Schroder family, which controlled 42% of the company, agreed to sell their stake valued at approximately £4.4 billion. The combined entity will manage nearly $2.5 trillion in assets, making it one of the world's largest asset managers though still smaller than BlackRock, Vanguard, and State Street.
Schroders was founded in 1804 as a merchant bank, listed on the London Stock Exchange in 1959, and pivoted to focus exclusively on asset management in 2000 when it sold its investment banking division. The company had faced mounting pressure from larger US rivals offering cheaper passive investment products, leading CEO Richard Oldfield to announce a £150 million cost-cutting program in 2025. Nuveen stated it will retain the Schroders brand and keep London as the combined group's largest office outside the US with approximately 3,100 employees. The transaction requires regulatory approval and is expected to close in Q4 2026.