Dow Jones -Schroders PLC Tuesday said it is taking a 49% stake in London hedge-fund operator RWC Partners Ltd., in the latest effort by a traditional stock and bond fund manager to boost its exposure to higher-fee hedge funds.
Schroders didn’t say how much it paid for the stake in the company, which manages $2.2 billion. Similar transactions, such as F&C Asset Management PLC’s GBP33.6 million purchase of Thames River Capital, and Man Group PLC’s $1.6 billion buy of GLG Partners Inc. have cost anywhere from 1% to 7% of assets under management, but those purchases involved taking full ownership.
