This morning it has been announced that Nuveen, a US asset manager subsidiary of TIAA, is set to acquire Schroders for around £9.9 billion, creating a significant global group with around US $2.5 trillion of assets under management, but notably for our market with the Schroders brand to be retained.
Schroders is, of course, a very well-known name in insurance-linked securities, with the ILS team within its Schroders Capital private assets unit one of the longest-standing and largest ILS managers in the space.
The Schroders Capital ILS team manages over $6.5 billion in ILS assets for its third-party investor clients, operating one of the largest catastrophe bond fund strategies in the world, as well as private ILS strategies which are focused more on collateralized reinsurance investments.
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