Georg Wunderlin, who joined in 2019 to head private assets and was promoted to lead Schroders Capital as CEO fewer than two years back, is preparing to move on. Before joining Schroders, he led HQ Capital, held senior posts at UBS Group AG, and started his career at Boston Consulting Group.
According to a company spokesperson, under Wunderlin's leadership, assets at Schroders Capital grew to $116 billion, up from $38 billion in 2019; the spokesperson said he has "decided now is the right time to step away from the business." The spokesperson added, "He will remain with the firm until the end of October."
According to people familiar with the plans, oversight of Schroders Capital will shift to Chief Executive Officer Richard Oldfield as leadership changes alongside the Nuveen deal. The integration is slated to complete on Oct. 1 after Nuveen's purchase of Schroders, announced in February. The merger will create a top-tier active asset manager globally, overseeing roughly $2.5 trillion.
Oldfield framed the strategic logic earlier this year: "When you bring these two organizations together, you're really bringing together Nuveen's really broad private markets capability, which has a very supportive parent that brings private capital and a US distribution." Nuveen is part of the Teachers Insurance and Annuity Association of America. Schroders also recently disclosed that Chair Elizabeth Corley, previously CEO of Allianz Global Investors, would step down, another sign of the changes arriving with the merger.
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Nuveen's deeper private-markets bench was a central draw for pairing with Schroders, long known for public-markets investing. Together, the firms said in February they would oversee more than $414 billion in private-markets strategies, roughly 17% of total assets, placing the combined group among the 10 largest alternative managers, per Bloomberg data.
Inside Schroders Capital, the menu spans mid-market private equity, asset-based finance, and real estate. The unit logged its strongest quarter for gross fundraising in over three years during the second quarter, and, excluding dry powder, assets under management were £74.1 billion as of the end of June. For everyday investors, the takeaway is simple: as these platforms knit together, expect private-markets access, products, and fundraising tempo to evolve - which can change how and where long-term capital gets put to work.
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