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Federated Hermes to Acquire Investment Advisory C.W. Henderson to Expand SMA Business.

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Vincent

MANews-(C)2009-2022

Pennsylvania, US-based investment company Federated Hermes, Inc. (NYSE: FHI) has agreed to acquire substantially all of the assets of Chicago-based registered investment advisory C.W. Henderson and Associates, Inc., to expand USD 23bn SMA business, the company said.

The transaction is expected to close in 3Q22. Terms were not disclosed.

C.W. Henderson is the advisor to approximately USD 3.63bn in direct account, dual contract separately managed accounts and sub-advised separately managed account portfolios.

The firm manages two active municipal bond products, one intermediate and the other short-term, both of which focus on high credit quality with limited interest rate risk while seeking to maintain credit, sector and state diversification to provide additional...

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