Schroders Completes Acquisition of Brookfield’s ABS and MBS team


Schroders – New York –  Schroders today announced that it has successfully completed its acquisition of Brookfield Investment Management Inc.’s securitized products investment management team, expanding its securitized credit team and its capabilities in the US.  A team of 11 individuals will be joining Schroders including portfolio managers, senior analysts, quantitative analysts and risk analysts. 

Based in New York, the combined team oversees more than $8 billion* in assets and is led by Michelle Russell-Dowe, Head of Securitized Credit, who joined from Brookfield. Ms. Russell-Dowe reports to Karl Dasher, CEO North America and Co-Head of Fixed Income and Philippe Lespinard, Co-Head of Fixed Income. 

Karl Dasher CEO North America and Co-Head of Fixed Income at Schroders said:

Since the announcement of this acquisition in May we have been working closely alongside our partners at Brookfield and Michelle and her team to ensure a seamless transition for their existing client base.  We have received a very favorable response from those clients with over 98% of the acquired client assets consenting to the transition, with in excess of $4.3 billion transitioning over.  We also have received shareholder approval to sub advise two closed end funds for Brookfield with an additional $770 million under management and have received indications of near term additional investments of more than $1 billion across the acquired strategies. This acquisition reinforces our commitment to strengthening our investment capabilities in areas of secular demand. Michelle and her team’s expertise in securitized markets is an important strategic addition in our quest to deliver higher return opportunities within fixed income for both US and non-US investors.” 

Schroders has a diversified and expansive fixed income capability globally, which includes credit, multi-sector, rates, emerging market debt, municipals, convertibles, currencies and has now enhanced existing ABS and MBS capabilities managing more than $127 billion* in assets under management. In the US specifically, there is a dedicated team of 22 portfolio managers and researchers focused on US credit.

Financial terms of the transaction were not disclosed.

*As of June 30, 2016.

About Schroder Investment Management North America Inc.

Schroder Investment Management North America Inc. is an indirect wholly-owned subsidiary of Schroders plc (SDR.L), a global asset management company with approximately $459.6 billion under management as of June 30, 2016. Schroder’s clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors. The firm has built one of the largest networks of offices of any dedicated asset management company with more than 400 portfolio managers and analysts covering the world’s investment markets, offering a comprehensive range of products and services.

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