Federated Hermes closes $331M acquisition of 80% of FCP Fund Manager, a US real estate manager

FEDERATED HERMES, INC.

Total consideration up to $331M: $215.8M cash, $23.2M in FHI Class B stock, plus $92M contingent.
FCP manages $3.5B in client assets (Dec 2025); specializes in US multifamily real estate.
Deal expands Federated Hermes’ private markets/alternatives, complementing its $5.3B UK real estate platform.
FCP converted to Federated Hermes FCP Manager, LLC; team of 75+ continues from existing offices.
Founded by Esko Korhonen, FCP has invested over $14.8B gross asset value since inception.

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