Offer for Schroders plc

The board of Nuveen, LLC (Nuveen) and the board of Schroders plc (Schroders) are pleased to announce that they have agreed the terms of a recommended cash acquisition by Pantheon LLC, a newly-incorporated subsidiary of Nuveen, a Teachers Insurance and Annuity Association of America (TIAA) company, to acquire the entire issued and to be issued share capital of Schroders.

Nuveen’s and Schroders’ businesses are highly complementary and the transaction represents an opportunity to combine their strengths to accelerate growth, better serve clients and create one of the world’s largest global active asset managers. The combined Group will have nearly $2.5 trillion of assets under management balanced across institutional and wealth channels.