Following media speculation Schroders has confirmed it is in "advanced talks" with Greencoat Capital, a European renewables infrastructure manager.
Sky News revealed last night (15 December) that the FTSE 100 fund manager is close to completing a deal to acquire a 75% stake in the renewable firm for about £360m.
In a stock exchange announcement this morning (16 December) , Schroders said: "There is no certainty these talks will lead to any final agreement.
"Schroders continues to evaluate potential acquisition opportunities in line with its strategy to build a comprehensive private assets platform and enhance its leadership position in sustainability."
Schroders share price was up 1.8% following the confirmation, while the FTSE 100 was up 1.1%.
The deal would add £717bn in assets to Schroders' business and will include an option for it to buy the remainder of the capital, an insider told Sky News.
Greencoat manages about £6bn assets under management, including the listed investment trusts, the £3.9bn Greencoat UK Wind and the £1.1bn Greencoat Renewables trust.
