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Report: Federated Investors in fray to buy UK's Hermes Fund Managers

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Report: Federated Investors in fray to buy UK's Hermes Fund Managers

Federated Investors Inc. is considering a bid to acquire U.K.-based asset manager Hermes Fund Managers Ltd., Sky News reported, citing sources.

Other potential buyers interested in acquiring Hermes, which manages more than £28 billion in assets, include U.S.-based Old Mutual Asset Management and Eaton Vance Corp., and Australian fund manager Challenger Ltd., according to the report. The BT Pension Scheme, which owns Hermes, may reportedly retain a stake in the company as part of a transaction.

Fenchurch Advisory Partners is advising the Hermes management team, and PricewaterhouseCoopers is advising the BT Pension Scheme, the media outlet noted.