Nuveen to Acquire Schroders in $9.9 Billion Deal

Merger to create one of the largest active global asset management firms with nearly $2.5 trillion in AUM

Published on Feb. 12, 2026

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Nuveen, a global asset manager with $1.4 trillion in assets under management, has agreed to acquire Schroders, a leading provider of active asset management, advisory and wealth management services with $1.1 trillion in AUM, in a cash deal valued at £9.9 billion. The combined firm will operate with significant scale and capabilities in the world's largest financial centers, with a presence in more than 40 markets globally.

Why it matters

The acquisition will create a powerhouse in the asset management industry, combining Nuveen and Schroders' complementary platforms, capabilities, distribution networks and cultures. The enlarged firm will be able to offer a broader range of high-quality investment solutions to meet the evolving needs of wealth and institutional clients around the world.

The details

Under the terms of the deal, each Schroders shareholder will receive £5.90 per share in cash, valuing the entire issued and to-be-issued share capital of Schroders at £9.9 billion. Schroders shareholders will also be entitled to receive up to 22 pence per share in dividends prior to completion. The transaction has been unanimously approved by the boards of both companies and is expected to close in Q4 2026, subject to shareholder and regulatory approvals.

  • The transaction is expected to close during Q4 2026.

The players

Nuveen

A global asset manager with $1.4 trillion in assets under management.

Schroders

A leading provider of active asset management, advisory and wealth management services with $1.1 trillion in assets under management.

William Huffman

Chief Executive Officer of Nuveen.

Richard Oldfield

Group Chief Executive of Schroders.

Dame Elizabeth Corley

Chair of Schroders.

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What they’re saying

“Through this exciting and transformational step for both of our distinguished firms, we look forward to welcoming Schroders into the Nuveen family. By bringing our complementary platforms, capabilities, distribution networks, and cultures together, we will create an extraordinary opportunity to enhance the way we serve our collective clients through access to new markets, bolstered product offerings, and deeper pools of investment talent.”

— William Huffman, Chief Executive Officer, Nuveen (PRNewswire)

“In a competitive landscape where scale can help deliver benefits, in Nuveen we see a partner that shares our values, respects the culture we have built and will create exciting opportunities for our clients and people.”

— Richard Oldfield, Group Chief Executive, Schroders (PRNewswire)

“The Combined Group will bring together two successful firms with shared values and highly complementary strengths to create a new global leader in public-to-private investment management. Building on Schroders' heritage, London will remain at the heart of this enlarged business and the Transaction will deliver an attractive premium in cash to our shareholders, reflecting the value of our business and its future prospects. The board of Schroders is confident that this is the right step for our shareholders, clients and people.”

— Dame Elizabeth Corley, Chair of Schroders (PRNewswire)

What’s next

The transaction is expected to close during Q4 2026, subject to shareholder and regulatory approvals.

The takeaway

The merger of Nuveen and Schroders will create a global asset management powerhouse with nearly $2.5 trillion in AUM, positioning the combined firm to better serve the evolving needs of wealth and institutional clients around the world through a broader range of high-quality investment solutions.