M&A
confidence high
sentiment neutral
materiality 0.65
Federated Hermes to acquire remaining 29.5% stake in Hermes Fund Managers for £116.5M
FEDERATED HERMES, INC.
- Purchase price of £116.5M (~$161.5M) for BTPS's 29.5% interest; HFML valuation set at £394.9M.
- Closing expected Aug 31, 2021; funded via cash on hand and existing credit facility.
- BTPS remains a significant client with $12.0B AUM in Federated Hermes products post-closing.
- Employee benefit trust continues to hold approx 10% of HFML for management and key employees.
- HFML AUM grew to £43.9B since acquisition of majority interest in 2018.