Greencoat, which will become part of Schroders Capital, Schroders’ private markets division, will be known as Schroders Greencoat.

Schroders Greencoat, which has delivered assets under management growth of more than 48 per cent per annum over the past four years, now oversees £6.8 billion ($8.86 billion).

Via the transaction, which was originally announced in December 2021, Schroders agreed to acquire a 75 per cent shareholding in Greencoat for an enterprise value of £358 million. The deal included a potential earn out, payable three years after completion, which is subject to stretch revenue targets; it included the continued employment of the senior management team in the Greencoat business, capped at £120 million.