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The Guardian - UK

Business

Alex Daniel

Schroders agrees £9.9bn takeover by US investor, ending 200 years of family ownership

Schroders United States Nuveen

A man walks past a Schroders sign outside a building in the City of London — The Schroders branding will be retained and London will remain as the largest office, with about 3,100 workers. Photograph: Toby Melville/Reuters

Schroders has agreed a £9.9bn takeover by a US investor, ending two centuries of family ownership of the historic British asset management group.

Chicago-based Nuveen will buy the City firm, it said on Thursday, in a deal that will create one of the world’s biggest fund managers, controlling about $2.5tn (£1.8tn) of assets.

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