Schroders is reportedly looking to splash £360m on a renewable energy investment group amid the global transition to net zero.
The asset manager is looking to by a controlling stake of Greencoat Capital, a 75 per cent share, which would significantly strengthen Schroders’ green offering, Sky News’ Mark Kleinman first reported.
The deal, which will also leave room for Schroders to buy the remainder of Greencoat, is expected to be announced in the coming days, sources said.
Greencoat, which has around £6bn under management and recently branched into the US market, will join Schroders lofty £717bn in management assets if the deal goes ahead.
The renewable energy investment fund has been eyeing a buyer for some time, after it was put up for sale earlier this year, hiring Fenchurch Advisory Partners to source potential buyers.
Though the fund reportedly caught the eye of a number of large fund managers in the City.
City A.M. has contacted Greencoat for comment. Schroders declined to comment.