Nuveen completes acquisition of Schroders... Integrated management company AUM worth $2.6 trillion

(Seoul = Yonhap News) Reporter Jeong Hoe-in = Nuveen, a global asset management company affiliated with the U.S. Teachers' Pension Fund (TIAA), announced on the 2nd that it completed the acquisition of Schroders Asset Management (Schroders) on the previous day (local time).

The assets under management (AUM) of integrated management companies amount to $2.6 trillion (approximately 408 trillion won).

Nuveen is a management company with strengths in the U.S. market and private equity assets, and Schroders is a British asset management company with a history of over 220 years that started in London, England in 1804 and has built a long business foundation in the European and global public offering markets.

The company explained that through this integration, a management company with a global top 10 size was launched in all three sectors, including active stocks, active bonds, and private markets.

The integrated management company plans to conduct business targeting institutional investors and wealth management (WM) customers in more than 40 markets around the world.

In particular, the plan is to reorganize the approximately $400 billion private market platform by asset class and gradually build an integrated investment platform encompassing the public and private markets.

William Huffman, CEO of Nuveen, said, "The combination of Nuveen and Schroders is an opportunity to reshape the investment industry landscape and provide differentiated value to customers. We will combine investment capabilities in major capital markets with customized solutions for customers."