Finance
Private Equity Firms Submit Offers for Schroders' Benchmark Unit, Sky News Reports
Published by Global Banking & Finance Review®
Posted on April 20, 2026
2 min readLast updated: April 20, 2026
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Quick Summary
Private equity firms Hg, TowerBrook, Vitruvian and Aquiline Capital have submitted indicative bids for Schroders’ financial planning arm, Benchmark Capital, even as shareholders approve a £9.9 bn sale of Schroders to U.S. rival Nuveen, creating a combined $2.5 trn asset manager.
Private Equity Firms Bid for Schroders' Benchmark Capital During Nuveen Takeover
Overview of Private Equity Interest in Benchmark Capital
Initial Bids and Interested Parties
April 20 (Reuters) - A group of private equity firms submitted initial bids for Benchmark Capital, the financial planning business of Schroders, Sky News reported Monday, as the British asset manager moves ahead with a 9.9 billion pound ($13.38 billion) takeover by U.S. rival Nuveen.
Key Bidders
Buyout firms Hg, Towerbrook and Vitruvian Partners have submitted offers for Benchmark, while U.S. buyout firm Aquiline Capital Partners is also among the interested parties, the report said, citing City sources.
Responses from Involved Parties
Schroders, Aquiline and Hg declined to Reuters' requests for comment. Towerbrook and Vitruvian Partners did not immediately respond to the requests for comment.
Background on Schroders and Nuveen Deal
Shareholder Approval and Market Impact
Last week, Schroders' shareholders agreed to the sale of the 222-year-old London firm to Nuveen, creating a combined entity with $2.5 trillion in assets under management at a time when mid-sized asset managers face pressure to merge to compete with bigger U.S. rivals.
Schroders' Stake in Benchmark Capital
Timeline of Ownership
The money manager first took a stake in Benchmark Capital in 2016 and in 2021, it acquired the remaining minority interest in the business.
Additional Information
Exchange Rate
($1 = 0.7400 pounds)
Reporting Credits
(Reporting by Raechel Thankam Job and Rishab Shaju in Bengaluru; Editing by Tasim Zahid)
Key Takeaways
- •Indicative bids received from leading buyout firms for Schroders’ Benchmark Capital, adding complexity to the larger Nuveen-Schrødors deal
- •Schroders shareholders approved the £9.9 bn takeover by Nuveen with overwhelming support on April 16, 2026, forming a combined asset manager with nearly $2.5 trn assets under management
- •Benchmark Capital has been a key wealth segment for Schroders, contributing around £0.9 bn in net new business in H1 2025—underpinning its attractiveness to private equity investors
Frequently Asked Questions about Private equity firms submit offers for Schroders' Benchmark unit, Sky News reports
1Which private equity firms have submitted bids for Schroders' Benchmark Capital?
Hg, Towerbrook, Vitruvian Partners, and Aquiline Capital Partners have submitted offers for Benchmark Capital.
2What is the value of Schroders' takeover by Nuveen?
The takeover by Nuveen is valued at 9.9 billion pounds, equivalent to approximately $13.38 billion.
3Why is Schroders selling Benchmark Capital?
Schroders is selling Benchmark Capital as part of a broader takeover by Nuveen, aiming to strengthen competitiveness amid pressure on mid-sized asset managers.
4When did Schroders acquire full ownership of Benchmark Capital?
Schroders first took a stake in Benchmark in 2016 and acquired the remaining minority interest in 2021.
5What will be the combined assets under management after the Schroders-Nuveen deal?
The combined entity will have $2.5 trillion in assets under management.