Schroders acquired a 49% stake in hedge fund manager RWC Partners, Schroders spokeswoman Emma Holden confirmed, making Schroders the largest third-party shareholder in RWC.
More than half of the firm is owned by current employees, according to its website. Schroders bought its shares from third-party individual shareholders.
Terms were not disclosed.
The London-based hedge fund manager will keep its existing management team and will operate separately from Schroders. RWC ran $2.2 billion as of March 31.
In 2006, Schroders acquired NewFinance Capital, which manages £2.5 billion ($3.7 billion) in hedge funds of funds.