Schroders to complete acquisition of US fixed income manager
Schroders has reached agreement to acquire 100% of the share capital of STW Fixed Income Management, a value-orientated, US investment-grade fixed income manager.
The acquisition increases Schroder’s assets under management in US fixed income by 50% to $35bn. STW manages $11.9bn on behalf of more than 100 institutional clients, as at September.
Schroders says STW has delivered top quartile performance across a broad range of fixed income strategies. The transaction is expected to complete in the first quarter of 2013.
Michael Dobson, chief executive of Schroders, said: “STW’s long-term investment approach and its strong performance track record are an excellent fit with Schroders. This acquisition broadens our product and service platform in fixed income and extends our institutional client base in the US.”
William H. Williams, founder, chief executive and chief investment officer of STW, said: “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. 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.”