Federated Hermes to Acquire Remaining Interest in Hermes Fund Managers

INVESTMENT MANAGEMENT DEALS BLOG

September 30, 2021

On August 18, 2021, it was announced that Federated Hermes, Inc. will acquire the remaining 29.5% interest in Hermes Fund Managers Limited.

Under the terms of the agreement, Federated Hermes, Inc. (“FHI”) will acquire the remaining 29.5% interest in Hermes Fund Managers Limited (“HFML”) held by BT Pension Scheme for approximately $161.5 million, to be funded through a combination of cash and borrowings from FHI’s existing credit line.  Approximately 10% of HFML will continue to be held by an employee benefit trust. Further terms of the deal were not disclosed.

FHI (NYSE: FHI), based in Pittsburgh, is a global investment manager serving corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers.  As of June 30, 2021, FHI had approximately $645.8 billion in assets under management.

To read the press release: please click here.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.