Nuveen takes Schroders in global scale play

Mike Taylor

Managing Editor and Publisher

16 February 2026

In what represents a sign of the times for major investment companies, UK-based Schroders Plc was last week acquired by global asset manager, Nuveen.

It represents a major scale play in an increasingly challenging environment for active managers.

The transaction, confirmed in Australia on Friday, creates what will be one of the largest active global asset management firms with nearly US$2.5 trillion of asset under management.

The announcement said the combined group “will operate with significant scale and capabilities” in the world’s largest financial centres.

Confirming the transaction, Nuveen chief executive, William Huffman described it as a transformational step.

“By bringing our complementary platforms, capabilities, distribution networks, and cultures together, we will create an extraordinary opportunity to enhance the way we serve our collective clients through access to new markets, bolstered product offerings, and deeper pools of investment talent,” Huffman said.

“This transaction is about unlocking new growth opportunities for wealth and institutional investors around the world by giving our leading, differentiated public-to-private platform a broader global presence.”

Schroders Group Chief Executive, Richard Oldfield confirmed the scale objective of transaction.

“In a competitive landscape where scale can help deliver benefits, in Nuveen we see a partner that shares our values, respects the culture we have built and will create exciting opportunities for our clients and people,” Oldfield said.

“The transaction will significantly accelerate our growth plans to create a leading public-to-private platform with enhanced geographic reach and a strengthened balance sheet. Together, we can create an exceptional opportunity to provide clients with a true breadth of high-quality solutions to meet their evolving needs.”

It is expected that for at least 12 months following the completion of the Transaction, the Schroders group will continue to operate as a standalone business within the wider Nuveen group.

Schroders will continue to be led by Oldfield, who will report to Huffman, CEO, Nuveen, and become a member of the Nuveen Executive Management Team.