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.