Schroder US Holdings, a subsidiary of FTSE 100 global asset company Schroders, announced Monday it would acquire 100 per cent of the share capital of STW Fixed Income Management.
STW, a US investment-grade fixed income manager, looks after about $11.9bn on behalf of more than 100 institutional clients, as at September 30th, 2012.
The transaction is due for completion in the first quarter of 2013.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Michael Dobson, Chief Executive of Schroders, said STW's long-term investment strategies and strong performance track record would be a valuable addition to the company.
"This acquisition increases our assets under management in US fixed income by 50% to $35bn, broadens our product and service platform in fixed income and extends our institutional client base in the US," he said in a statement.
William H. Williams, founder, Chief Executive Officer and Chief Information Officer of STW, said the deal was a perfect fit.
"We have been determined in our efforts to partner with a firm that values clients the same way as STW has for over three decades," he said.
"I believe that this transaction is the best decision for STW clients and employees. I look forward to the continued success of the combined business in the years ahead."
RD
-
The year trust became the currency in the art marketOpinion Collectors looking for accountability are turning to smaller dealers, says Sarah Ryan of New Blood Art
-
FCA could lift ban on crypto ETNs for UK retail investorsSome hope that the consultation could lead to a lifting of the ban on crypto ETF sales in the future
