Federated Hermes, Inc. · NYSE:FHI
Federated Hermes — Merger or Acquisition (October 2025)
10 slides from Federated Hermes's merger presentation, Oct 23, 2025
Slide 1: Federated Hermes, Inc. Acquisition of FCP Fund Manager, L.P.
1 Federated Hermes, Inc. Acquisition of FCP Fund Manager, L.P. October 24, 2025
Slide 2: Forward-looking information
2 Forward-looking information This presentation contains certain forward-looking statements within the meaning of Section 21E of the Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements can include statements that do not relate stric
Slide 3: Strategic Rationale
3 Strategic Rationale FHI’s acquisition of 80% of FCP Fund Manager, L.P. (FCP) significantly enhances its private markets footprint Significantly expands FHI’s U.S. based private markets investment presence Expands FHI’s private markets real estate business into North America, a market respected
Slide 4: FHI's Private Markets / Alternatives Capabilities
4 FHI’s Private Markets / Alternatives Capabilities Private markets / alternatives AUM: $19.0 billion as of September 30, 2025 Track record spans four decades and approach built on longstanding partnerships In 1983, made first private markets investment in real estate Specialist private mark
Slide 5: Overview of FCP
5 Overview of FCP FCP is a market-leading real estate investment and property management firm FCP: Founded in 1999, FCP is focused on multifamily real estate with $3.8bn of AUM as of June 30, 2025. Since inception, has invested in or financed more than $14.6 billion of residential and commercial r
Slide 6: Experienced Team Poised for Growth
6 Experienced Team Poised for Growth FCP is led by an experienced executive management team with a track record that spans multiple cycles; next level of leadership is firmly in place and committed to leading the business for the long-term FCP’s seven-member investment committee has an average o
Slide 7: Balanced Investment Platform
7 Balanced Investment Platform Dynamic Investment Strategy • FCP: a residential-focused investment manager with a leading position in U.S. multifamily real estate • Investment capabilities across a closed-end flagship fund series, co- investments, an open-end fund and SMAs • Capabilities across mult
Slide 8: AUM by Investment Vehicle Type
8 AUM by Investment Vehicle Type Total $3.8B FCP has firmly established itself as a preeminent multifamily investment platform in the U.S. (1) Excludes extensive pre-fund portfolio consisting of $368.5 million equity deployed by funding team in one-off transactions with JV partners from inception in
Slide 9: Transaction Detail
9 Transaction Detail Transaction is landmark event for FHI as it further develops its strategic vision of becoming a global private markets enterprise (1) Expected 2025 Revenue and EBITDA per FCP’s March 2025 Confidential Information Memorandum. EBITDA is a non-GAAP financial measure. Please see sli
Slide 10: Important Information Regarding Non-GAAP Financial Measures
10 Important Information Regarding Non-GAAP Financial Measures As used in this presentation, FCP projected EBITDA refers to FCP’s projected earnings before deducting interest, taxes, depreciation and amortization, as provided by FCP to FHI as part of its March 2025 Confidential Information Memorandu
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