Federated Hermes is a global investment management firm headquartered in Pittsburgh that runs mutual funds, ETFs, and money-market cash funds for corporations, pension funds, and everyday investors. It began in 1955 when three high-school classmates—John Donahue, Richard Fisher, and Thomas Donnelly—founded Federated Investors, which later merged with London's Hermes, an investment firm that grew out of managing Britain's postal and telephone pension funds. The combined firm took the Federated Hermes name in 2020, and its ticker changed from FII to FHI.
Federated Hermes closes acquisition of 80% interest in FCP Fund Manager
The aggregate purchase price is up to $331 million, including $215.8 million in cash, $23.2 million in Federated Hermes Class B common stock, and up to $92 million in potential contingent consideration.
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On April 9, 2026, Federated Hermes, Inc. completed its acquisition of an 80% interest in FCP Fund Manager, L.P., a U.S. real estate investment manager based in Chevy Chase, Maryland.
FCP converted to a Delaware limited liability company and renamed to Federated Hermes FCP Manager, LLC.
FCP manages $3.5 billion in client assets as of December 31, 2025, and has invested in or financed over $14.8 billion in gross asset value since 1999.
The acquisition expands Federated Hermes' private markets and alternatives capabilities, complementing its existing UK real estate platform.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Federated Hermes subsidiary sued over £90M wind farm investment loss
Aberdeen City Council Pension Fund filed derivative and direct claims against Hermes GPE LLP and Hermes Infrastructure II GP LLP over the Ventus Portfolio investment.
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The claims allege professional negligence and breach of the limited partnership agreement in connection with the 2019 investment in five Swedish onshore wind farms.
The derivative claim seeks approximately £87 million (about $120 million) for the alleged diminished value of the Ventus Portfolio.
The direct claims against the General Partner seek approximately 38.1% of the alleged diminished value, about $46 million.
Federated Hermes denies the allegations, believes the claims lack merit, and has notified its insurers.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Federated Hermes announces executive leadership changes effective April 30, 2026
John B. Fisher will step back from full-time responsibilities as Vice President and President/CEO of the Federated Advisory Companies, effective April 30, 2026, and will become Chairman of the Federated Advisory Companies.
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Paul A. Uhlman will succeed Fisher as President and CEO of the Federated Advisory Companies, while remaining a Vice President and executive officer of Federated Hermes.
Bryan M. Burke will succeed Uhlman as President of Federated Securities Corp. and will become a Vice President and executive officer of Federated Hermes.
Fisher will not stand for re-election to the Board at the next Annual Meeting expected on April 30, 2026; Uhlman will be recommended for nomination to the Board.
Uhlman is also recommended to replace Fisher on Federated Hermes Funds' Boards and as President of certain funds, expected to occur May 14, 2026.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Federated Hermes to acquire 80% of FCP Fund Manager for up to $331 million
Federated Hermes, Inc. agreed to acquire an 80% interest in FCP Fund Manager, L.P., a U.S. real estate investment manager with $3.8 billion in assets as of June 30, 2025.
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The aggregate purchase price is up to $331 million, including $215.8 million in cash and $23.2 million in FHI Class B common stock at closing, plus up to $92 million in contingent consideration.
The transaction is expected to close in the first half of 2026, subject to third-party consents and HSR antitrust waiting period expiration.
FCP will be converted to a limited liability company, with FHI initially owning 80% and controlling the board; FCP's management team will continue day-to-day operations.
The acquisition expands Federated Hermes' private markets and U.S. real estate capabilities, complementing its U.K. real estate business.
1.01 Entry into a Material Definitive Agreement · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits