Federated Hermes to acquire an 80% stake in FCP Fund Manager for $331m.

Federated Hermes, an investment manager, agreed to acquire an 80% stake in FCP Fund Manager, a real estate investment manager, for $331m. "We are delighted to announce the signing of the purchase agreement for this transaction today. Upon closing, this transaction will allow Federated Hermes to enter the U.S. Real Estate Market at a time when the Multifamily sector enjoys strong fundamentals and significant growth opportunities. FCP brings a long-term record of real estate investment performance, which has been driven by a focus on risk-adjusted returns, extensive local and regional market knowledge and deep community relationships," J. Christopher Donahue, Federated Hermes President and CEO.