British fund manager Schroders has agreed to purchase a team of securitised investment specialists from Brookfield Investment Management with $4bn in assets under management (AUM).
The team, led by Brookfield managing director and head of securitized products investments Michelle Russell-Dowe, will join Schroders’ New York based ABS team bringing its AUM to over $8bn.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The incoming professionals manage an Irish qualifying investor alternative investment fund (QIAIF), which will become an important component of the firm’s extension into alternative investments.
Following the acquisition, Brookfield’s assets will be managed under the Schroders brand.
Schroders CEO North America and co-head of fixed income Karl Dasher said: "This acquisition deepens our capabilities in one of the largest and most research intensive credit sectors globally.
"The process developed by Michelle and her team over two decades has delivered one of the longest and strongest track records in the sector with an extensive network of industry relationships. This will strengthen our investment capability for both US and non-US investors seeking higher return opportunities within fixed income."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRussell-Dowe said: "We feel the organization, investment approach and environment will be a great fit for our team and our clients, which will benefit from the deep resources and capabilities Schroders has to offer globally.
"We look forward to working with Schroders to build on the exciting opportunities available in a changing fixed income landscape."
Financial details of the deal, which is expected to complete in the third quarter of 2016, were not disclosed.
Schroders’ Fixed Income team manages more than $125bn in AUM and is supported by an investment staff of over 150 individuals including portfolio management, research, analytics, risk and product and portfolio management.
