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.
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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."
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