Have you been wondering who recently bought Federated Hermes? Well, the answer is none other than UBS Asset Management.
UBS Asset Management Acquires Federated Hermes
In May 2021, UBS Asset Management announced that it had acquired Federated Hermes. This acquisition marks a significant move for UBS as it aims to expand its presence in the United States.
The Deal
The deal involves UBS Asset Management buying a majority stake in Federated Hermes. As part of the deal, UBS will acquire a 60% equity stake in Federated Hermes for $4.6 billion. The remaining 40% will be retained by Federated Hermes’ employees.
What Does This Mean for Investors?
For investors, this acquisition could mean potential benefits. The combination of UBS Asset Management and Federated Hermes could lead to increased investment opportunities and a wider range of products and services.
The Importance of Federated Hermes
Federated Hermes is a well-respected asset management company with over $600 billion in assets under management. The company has a strong focus on responsible investing, which aligns with UBS Asset Management’s commitment to sustainable investing.
Conclusion
In conclusion, the acquisition of Federated Hermes by UBS Asset Management is a significant move that could have positive implications for investors. With this acquisition, we may see increased investment opportunities and a wider range of products and services from these two reputable companies.
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