Federated Hermes to acquire the remaining 29.5% stake in Hermes Fund Managers from BT Pension Scheme for $162m.

Federated Hermes, an investment management firm, agreed to acquire the remaining 29.5% stake in Hermes Fund Managers, a provider of investment management services, from BT Pension Scheme, a corporate defined benefit pension scheme, for $162m. "Over the past three years, our shared values and mutually beneficial areas of expertise have given us the opportunity to engage with BTPS and enjoy an open dialogue with them as a key client and owner. Our combined investment management, stewardship and distribution experience make it prudent for FHI to complete this deal in a timely fashion so that we can continue to focus on expanding our investment and stewardship capabilities while growing our global distribution footprint," J. Christopher Donahue, Federated Hermes President and CEO.