Business
Federated Hermes, Inc. completes acquisition of 80% majority interest in FCP Fund Manager, L.P.
Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today announced the completion of its previously announced acquisition of an 80% majority interest in FCP Fund Manager, L.P. (FCP®), a privately held US real estate investment manager based in Chevy Chase, Maryland. In connection with the closing, FCP Fund Manager, L.P. converted to a Delaware limited liability company named Federated Hermes FCP Manager, LLC.
About this update from Federated Hermes, Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"FCP® is a privately held multifamily real estate investment manager with client assets of $3.5 billion (December 31, 2025)","length":122,"tagName":"p"}]},{"val":[{"type":"text","content":"Extends Federated Hermes' real estate footprint into major US markets, complementing its long-established UK platform","length":121,"tagName":"p"}]},{"val":[{"type":"text","content":"Strengthens Federated Hermes' commitment to expanding its private markets/alternatives capabilities, particularly in the United States","length":138,"tagName":"p"}]},{"val":[{"type":"text","content":"Expands FCP's institutional platform to support its continued growth ","length":72,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":453,"olType":false},{"type":"text","content":"PITTSBURGH, April 9, 2026 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today announced the completion of its previously announced acquisition of an 80% majority interest in FCP Fund Manager, L.P. (FCP®), a privately held US real estate investment manager based in Chevy Chase, Maryland. In connection with the closing, FCP Fund Manager, L.P. converted to a Delaware limited liability company named Federated Hermes FCP Manager, LLC.","length":481,"tagName":"p"},{"type":"text","content":"As previously stated, the aggregate purchase price of up to $331 million includes $215.8 million in cash, $23.2 million in Federated Hermes Class B common stock, and potential contingent consideration of up to $92 million over multiple periods.","length":244,"tagName":"p"},{"type":"text","content":"Founded as a specialist in the US multifamily sector, FCP® invests across the US multifamily asset class through predominantly equity and several debt vehicles. Since inception, the firm has invested in, operated, and/or financed more than $14.8 billion in gross asset value, including more than 75,000 multifamily units, and today manages portfolios from six US offices with deep local coverage across 19 priority markets. FCP's® 75-plus-member team will continue operating from its existing locations.","length":507,"tagName":"p"},{"type":"text","content":"This completed transaction aligns with Federated Hermes' strategy to expand its private markets and alternatives capabilities globally, building on its existing...