Finance
US-based Nuveen to buy UK's Schroders for $13.5 billion
Published by Global Banking & Finance Review®
Posted on February 12, 2026
2 min readLast updated: February 12, 2026
Quick Summary
Nuveen agrees to buy Schroders for $13.5 billion, forming a $2.5 trillion asset management group. Shareholders benefit with cash and dividends.
US-based Nuveen to buy UK's Schroders for $13.5 billion
Nuveen's Acquisition of Schroders
LONDON, Feb 12 (Reuters) - British money manager Schroders said on Thursday it had agreed to be bought by U.S. asset manager Nuveen for 9.9 billion pounds ($13.50 billion), while the founding family would sell-up, in the end of an era for the 222-year-old firm.
Details of the Deal
Schroders' shareholders will receive 590 pence per share in cash plus permitted dividends of up to 22 pence, valuing the company at 612 pence per share - a 34% premium to Wednesday's closing price, according to LSEG data.
Impact on Shareholders
Nuveen, backed by the Teachers Insurance and Annuity Association of America, said the deal would create a leading public-to-private platform with enhanced geographic reach across the Americas, Europe and Asia-Pacific.
Future Leadership Structure
Nuveen said it has received irrevocable undertakings in support of the deal from Schroders' principal shareholder group, which controls 41% of shares through various family trusts.
Financial Performance Overview
"The board of Schroders is confident that this is the right step for our shareholders, clients and people," Schroders Chair Elizabeth Corley said in a statement.
BNP Paribas was sole financial adviser to Nuveen, with Wells Fargo and Barclays advising Schroders.
Separately on Thursday, Schroders also reported adjusted operating profit of 756.6 million pounds for 2025, up 25% from a year earlier.
Schroders CEO Richard Oldfield will continue to lead the firm after the deal closes, with London serving as the combined group's non-U.S. headquarters.
($1 = 0.7334 pounds)
(Reporting by Iain Withers and Raechel Thankam Job Editing by David Goodman, Harikrishnan Nair and Louise Heavens)
Key Takeaways
- •Nuveen acquires Schroders for $13.5 billion.
- •Combined assets under management reach $2.5 trillion.
- •Schroders shareholders receive 590 pence per share.
- •Richard Oldfield to lead post-acquisition.
- •London to be non-U.S. headquarters.
Frequently Asked Questions about US-based Nuveen to buy UK's Schroders for $13.5 billion
1What is a merger?
A merger is a business combination where two companies join to form a single entity, often to enhance competitiveness, expand market reach, or achieve operational efficiencies.
2What is shareholder compensation?
Shareholder compensation refers to the payments or benefits provided to shareholders, often in the form of cash or dividends, typically during a merger or acquisition.
3What is asset management?
Asset management is the process of managing investments on behalf of clients, including institutions and individuals, to achieve specific financial goals.
4What is a leadership structure?
A leadership structure outlines the hierarchy and roles within an organization, detailing how decisions are made and who is responsible for various functions.
5What is a financial overview?
A financial overview provides a summary of a company's financial status, including assets, liabilities, revenues, and expenses, often used to assess performance.
