The combined group will become one of the largest active global asset management firms with nearly US$2.5 trillion of assets under management operating in more than 40 markets.

Nuveen, a New York-headquartered global investment manager, has agreed to acquire Schroders, a London-based British multinational asset management firm in a cash deal worth around £9.9 billion (US$13.47 billion). The transaction will create one of the largest active global asset management firms  The transaction will create one of the largest active global asset management firms with nearly $2.5 trillion of assets under management operating in more than 40 markets. William Huffma