April 20 (Reuters) - A group of private equity firms submitted initial bids for Benchmark Capital, the financial planning business of Schroders, Sky News reported Monday, as the British asset manager
Private equity firms submit offers for Schroders' Benchmark unit, Sky News reports
Schroders' Benchmark Unit Attracts Private Equity Bids Amid Nuveen Takeover
April 20 (Reuters) - A group of private equity firms submitted initial bids for Benchmark Capital, the financial planning business of Schroders, Sky News reported Monday, as the British asset manager moves ahead with a 9.9 billion pound ($13.38 billion) takeover by U.S. rival Nuveen.
Market Reaction and Background
Shares of the British money manager were flat during market hours.
Previous Reports on Benchmark Sale
Reuters first reported in December 2025 that Schroders was considering a sale of its Benchmark unit, as part of efforts to expand its wealth management business under CEO Richard Oldfield.
Private Equity Interest in Benchmark Capital
Key Bidders
Buyout firms Hg, TowerBrook and Vitruvian Partners have submitted offers for Benchmark, while U.S. buyout firm Aquiline Capital Partners is also among the interested parties, the report said, citing City sources.
Responses from Involved Parties
Schroders, Hg, TowerBrook and Aquiline declined to comment. Vitruvian Partners did not respond to the requests for comment.
Strategic Implications of the Nuveen Takeover
Shareholder Approval and Industry Context
Last week, Schroders' shareholders agreed to the sale of the 222-year-old London firm to Nuveen, creating a combined entity with $2.5 trillion in assets under management at a time when mid-sized asset managers face pressure to merge to compete with bigger U.S. rivals.
Schroders' Investment in Benchmark
The money manager first took a stake in Benchmark Capital in 2016 and in 2021, it acquired the remaining minority interest in the business.
Benchmark's Assets Under Management
Benchmark had 38.6 billion pounds in assets under management as of December 31, 2025, the money manager reported in its first-quarter trading update last week.
Additional Information
($1 = 0.7400 pounds)
(Reporting by Raechel Thankam Job and Rishab Shaju in Bengaluru; Editing by Tasim Zahid and Tomasz Janowski)
