Schroders to buy STW Fixed Income Management

Schroders announced Monday it had agreed to acquire STW Fixed Income Management, confirmed Erin Chrislock, principal, chief compliance officer and general counsel at STW.

Terms were not disclosed, and Ms. Chrislock would not provide further information.

STW Fixed Income Management had $11.9 billion in assets under management as of Sept. 30, according to a Schroders news release. The acquisition will raise Schroders' U.S. fixed-income AUM to $35 billion.

The acquisition is expected to close in the first quarter of 2013, confirmed a Schroders spokeswoman.