Schroders’ subsidiary Schroder U.S. Holdings Inc has acquired US fixed income manager STW Fixed Income Management for an undisclosed sum.
STW manages $12bn on behalf of more than 100 institutional clients as at 30 September. The transaction is expected to be completed in the first quarter of 2013.
Schroders chief executive Michael Dobson says: “STW’s long-term investment approach and its strong performance track record are an excellent fit with Schroders. This acquisition increases our assets under management in US fixed income by 50 per cent to $35bn, broadens our product and service platform in fixed income and extends our institutional client base in the US.”
STW founder, chief executive and chief investment officer William H. Williams says: “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 this transaction is the best decision for STW clients and employees.”