Nubin Acquires U.K. Schroders Asset Management for 19.6 Trillion Won...Becomes a 3,600 Trillion Won AUM Giant

Birth of the World's Largest Active Asset Manager

U.S.-based Nubin Asset Management will acquire the U.K.-based Schroders Asset Management for about 9.9 billion pounds (approximately 19.614 trillion won). The combined firm is expected to emerge as a giant active asset manager with around 2.5 trillion dollars (approximately 3,636 trillion won) in assets under management.

Nubin Asset Management, an investment manager under the Teachers Insurance and Annuity Association of America (TIAA), announced on February 24 that it has agreed to a board-recommended all-cash acquisition of U.K.-based Schroders Asset Management. Through this transaction, Nubin will acquire all shares of Schroders, including shares to be issued, for approximately 9.9 billion pounds.

Schroders Asset Management manages about 1.1 trillion dollars in assets and focuses on active management, advisory, and wealth management (WM). With Nubin Asset Management, which has 1.4 trillion dollars in assets under management (AUM), acquiring Schroders, a new global leader in active asset management with 2.5 trillion dollars in assets under management has been created.

In this acquisition, BNP Paribas and Clifford Chance served as Nubin Asset Management’s financial advisor and legal advisor, respectively. Even after the deal is completed, Schroders Asset Management will continue to operate as an independent business within the Nubin group for at least 12 months, and current Chief Executive Officer (CEO) Richard Oldfield will continue to lead Schroders. CEO Oldfield will report directly to Huffman William, Chief Executive Officer (CEO) of Nubin Asset Management, and will also join Nubin’s top management team.

CEO Huffman said, "By combining our complementary platforms, capabilities, distribution networks, and corporate cultures, and by entering new markets, strengthening our product lineup, and expanding our investment professional talent base, we will enhance the services we provide to clients."