---
schema_version: "secwatch.filing_event.v1"
accession: "0001056288-22-000026"
form_type: "8-K"
ticker: "FHI"
cik: "0001056288"
company_name: "FEDERATED HERMES, INC."
filed_at: "2022-07-18T23:59:59+00:00"
generated_at: "2026-06-24T13:04:11.996839+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Federated Hermes to acquire C.W. Henderson's $3.63B municipal SMA business for $30M+

## Summary
- Initial purchase price of $30M, plus up to $20M in contingent payments over five years based on net revenue growth.
- C.W. Henderson manages $3.63B in tax-exempt municipal securities across direct, SMA, and sub-advised accounts.
- Transaction expected to close in Q3 2022; entire C.W. Henderson team will join Federated Hermes.
- Acquisition adds municipal SMA expertise to Federated Hermes' existing $23B SMA business.
- Deal approved by both boards; subject to client consents and customary closing conditions.

## SEC filing metadata
- accession: 0001056288-22-000026
- form_type: 8-K
- ticker: FHI
- cik: 0001056288
- company_name: FEDERATED HERMES, INC.
- filed_at: 2022-07-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1056288/000105628822000026/0001056288-22-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1056288/000105628822000026/fhi-20220715.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001056288-22-000026
- JSON: https://secwatch.observer/filing/0001056288-22-000026.json
- Plain text: https://secwatch.observer/filing/0001056288-22-000026.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.