Schroders eyes Cazenove for acquisition

Schroders PLC is in talks to acquire wealth management and mutual fund firm Cazenove Capital Holdings Ltd., according to statements from both firms.

Cazenove Capital had assets under management of £18.7 billion ($28.4 billion) as of Feb. 28. Schroders confirmed it is discussing for a cash offer, with a loan note alternative, for the “entire issued ordinary share capital of Cazenove Capital.”

Schroders has until the close of business on April 19 to announce whether it intends to make a firm offer.

In December, Schroders announced it planned to acquire STW Fixed Income Management. The acquisition of STW Fixed Income, which had $11.9 billion in assets under management as of Sept. 30, would raise Schroders' U.S. fixed-income AUM to $35 billion.

Schroders spokeswoman Emma Holden did not return a phone call by press time, and Cazenove spokeswoman Victoria Hayes would not provide further information.