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Schroders studied M&G deal to build USD 1trn fund manager

Schroders spent months exploring a potential acquisition of M&, a deal that would have created a UK fund powerhouse overseeing more than USD 1trn of assets, people with knowledge of the matter said.

Photo: PR/Schroders

London-based Schroders was working with a partner earlier this year to consider a breakup of M&G by splitting its asset management operations from its pension and insurance unit, according to the people. It recently abandoned the idea after deciding M&G would be too expensive, the people said, asking not to be identified because the information is private.

The deliberations by Schroders, already the UK’s biggest standalone asset manager, never led to any formal discussions with M&G, the people said. Shares of M&G have more than doubled from their low in March 2020. The company’s stock fell 0.8 percent as of 9:12 a.m. Thursday in London, giving it a market value of GBP 5.7bn (USD 8bn).

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