Shares of UK-based Schroders surged nearly 28% after U.S. investment giant Nuveen announced it would acquire the London-listed asset manager in a deal valued at £9.9 billion ($13.5 billion). The agreement will create one of the world’s largest global asset management firms, with combined assets under management of nearly $2.5 trillion.
Nuveen, the investment arm of TIAA, will offer up to 612 pence per share for Schroders. The combined group will also oversee around $414 billion in private market assets, strengthening its presence in private equity, real estate, and alternative investments. Analysts say the transaction significantly boosts the firm’s ability to compete in the growing global investment management industry.
Schroders currently manages about £824 billion in assets, with a strong footprint across the EMEA region. Nuveen oversees approximately $1.4 trillion, mainly in the Americas. The merger will expand geographic reach and diversify revenue streams across major financial markets.
Under the agreement, the Schroders brand and London headquarters will remain, preserving its long-standing identity. Company leadership said the deal strengthens the balance sheet, enhances global capabilities, and accelerates growth in public and private investment strategies.
The acquisition reflects broader consolidation trends in the asset management sector, as firms seek scale, diversification, and stronger global positioning.
