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Wellington Buys Hartford Funds for $1.9 Billion
4 Jun
Summary
- Wellington Management is acquiring Hartford Funds for $1.9 billion.
- The deal merges a long-standing business arrangement dating back to 1978.
- The acquisition is expected to finalize in the first quarter of 2027.
Wellington Management has announced its intention to acquire Hartford Funds for $1.9 billion, a move that will see Hartford Funds operate under the Wellington brand upon completion. This acquisition transforms a long-standing partnership, which began in 1978 and evolved through sub-advisory agreements for mutual funds, ETFs, and other investment strategies.
Currently, Wellington sub-advises a significant 83% of Hartford Funds' approximately $160 billion in assets. The integration is poised to combine Wellington's institutional investment operations with Hartford Funds' robust distribution network and intermediary connections within the US. This synergy is expected to provide advisors with enhanced access to a broad range of investment products and strategies.
The deal, which brings together over 160 client-facing staff from Hartford Funds and Wellington's broader capabilities, is slated for completion in the first quarter of 2027. This timeline is contingent upon receiving regulatory and fund approvals. Both companies express optimism about the future, anticipating strengthened offerings for advisors and investors in the US wealth market.
