March 1, 2018 / 3:01 PM / in 9 months

Federated Investors in talks to take stake in fund manager Hermes - sources

LONDON, March 1 (Reuters) - U.S. fund manager Federated Investors has entered exclusive talks with Hermes Investment Management about buying a controlling stake in the British firm that manages 33 billion pounds in assets, according to sources familiar with the matter.

Hermes is owned by the BT Pension Scheme, which is also its biggest client. Hermes was previously in talks with suitors including U.S. firm Eaton Vance and Australian fund manager Challenger, one of the sources said on Thursday. (Reporting by Ben Martin and Carolyn Cohn. Editing by Jane Merriman)

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