Norton Rose Fulbright advises BNP Paribas as financial adviser to Nuveen on its £9.9 billion recommended offer for Schroders

Global law firm Norton Rose Fulbright is advising BNP Paribas as financial adviser to Nuveen LLC (Nuveen), a Teachers Insurance Annuity Association company (TIAA) on its £9.9 billion recommended cash offer for Schroders plc (Schroders).

Nuveen, a global asset manager, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.4 trillion in AUM as of 31 December 2025 and operations in 26 countries. Its investment specialists offer deep expertise across a comprehensive range of public-to-private investments through a wide array of vehicles and customised strategies. TIAA provides secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions. TIAA has $1.8 trillion in assets under management and total statutory capital of $49 billion as of 31 December 2025. Nuveen is the asset manager for TIAA.

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £824 billion of AUM as of 31 December 2025. As a UK listed FTSE100 company, Schroders has c.5,700 employees across 38 locations.

The London-based Norton Rose Fulbright team is being led by corporate partner Paul Whitelock alongside banking partner James Dunnett and corporate partner Kit McCarthy, supported by corporate associate Katherine MacPhail.