Schroders to Be Taken Private in £9.9B Nuveen Deal

Schroders has agreed to be taken over by Nuveen in a £9.9bn deal, ending roughly 200 years of family ownership of the historic British asset manager. The transaction is expected to create one of the world’s largest fund managers.

Nuveen, based in Chicago, will buy the City firm while Schroders retains its branding and London remains its largest office with about 3,100 workers. The deal also removes another FTSE 100 company from the London Stock Exchange.

Schroders was founded in 1804 and listed on the LSE in 1959, later selling its investment banking arm in 2000 to focus on asset management.