Federated Hermes to acquire 80% of real estate manager FCP for up to $331M

FEDERATED HERMES, INC.

Aggregate purchase price up to $331M: $215.8M cash + $23.2M FHI stock at closing; plus up to $92M contingent.
FCP manages $3.8B assets as of June 30, 2025; specializes in U.S. multifamily real estate; 75+ employees.
Deal expected to close in H1 2026; subject to HSR antitrust clearance and third-party consents.
FHI expands U.S. private markets capabilities; complements existing $5.5B U.K. real estate business.
FHI will own 80% initially; FCP management retains 20% and enters five-year employment agreements.

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