US fund giant Federated Investors is close to sealing the £400m purchase of London-based Hermes Investment Management, according to reports.
News of the US house carrying out a takeover of Hermes IM, which is owned by BT's pension scheme, is expected to be announced "within days" according to Sky News. Hermes IM, widely known as an adviser to clients on corporate governance and stewardship issues, was established by BT nearly 25 years ago to manage its retirement funds and is responsible for £33bn in AUM and £336bn under advice. Meanwhile, Federated Investors manages close to $400bn for clients and is thought to have been in exclusive talks with Hermes for several weeks. The latest development comes after earlier spec...
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