Deals
Schroders to Buy Cazenove Capital for 424 Million Pounds
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Schroders Plc, Europe’s biggest publicly traded money manager, agreed to buy Cazenove Capital Holdings Ltd. for 424 million pounds ($646 million) to expand its private-banking operations.
Schroders will pay 135 pence a share in cash for Cazenove Capital, which is owned by its current and former employees, the London-based fund manager said today in a statement. The deal will add 17.2 billion pounds of assets, increasing Schroders’s funds under management to about 229.2 billion pounds.