Schroders acquires $4bn US ABS team

Schroders has acquired a team of securitised investment specialists from Brookfield Investment Management Inc with $4bn in assets under management.

Schroders acquires $4bn US ABS team


The transaction is expected to complete in the third quarter of 2016. The financial terms have not been disclosed.

The team is led by Michelle Russell-Dowe, head of securitised products investments at Brookfield.

The incoming professionals and the assets will be combined with Schroders’ existing New York based ABS team, bringing the assets under management to $8bn.

The incoming Brookfield team also manages an Irish qualifying investor alternative investment fund (QIAIF), which will become “an important component of the firm’s extension into alternative investments” once it is rebranded under the Schroders name.

CEO North America at Schroders Karl Dasher said: “This acquisition deepens our capabilities in one of the largest and most research intensive credit sectors globally. The process developed by Michelle and her team over two decades has delivered one of the longest and strongest track records in the sector with an extensive network of industry relationships. This will strengthen our investment capability for both US and non-US investors seeking higher return opportunities within fixed income.”

“Our team is very excited to become part of Schroders,” added Russell-Dowe. “We feel the organisation, investment approach and environment will be a great fit for our team and our clients, which will benefit from the deep resources and capabilities Schroders has to offer globally. We look forward to working with Schroders to build on the exciting opportunities available in a changing fixed income landscape.”