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Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
The transaction creates one of the world’s biggest asset management companies.
Most of Chicago-based Nuveen’s holdings are in the Americas, while Schroders’ $1.1T assets are largely in Europe, Asia and Africa.
Nuveen plans to retain the Schroders brand and maintain its London office and 3,100 professionals as its non-US headquarters.
William Huffman, CEO of Nuveen called the deal “an exciting and transformational step for both of our distinguished firms.”
Schroders, which was founded in 1804, issued bonds for the Confederate states during the Civil War.
Scottish-American industrialist Andrew Carnegie, founded Nuveen’s parent company, TIAA, in 1918. TIAA has $1.5T in assets under management.
Prosek’s Brian Schaffer and Doug Campbell handle Nuveen. Brunswick’s Charles Pretlik, Simone Selzer and Ronin Wrench advise Schroders.
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