Wellington Management Acquires Hartford Funds for $1.9B
Wellington Management and The Hartford entered into a definitive agreement under which Wellington will acquire Hartford Funds, a leading provider of investment solutions for the wealth management market. Upon closing, Hartford Funds will be integrated into Wellington's U.S. Wealth business and going forward the business will operate under the Wellington brand. This transaction will allow Wellington to offer financial advisors and investors broader access to investment capabilities, a deeper distribution platform, and more integrated support across the U.S. wealth management landscape. This will be achieved by combining Wellington's global institutional investment expertise with Hartford Funds' established advisor relationships. This acquisition transforms the companies' long-term, strategic partnership into a single, full-service firm that can deliver stronger outcomes for financial advisors and investors in the decades ahead. The combined organization will be a stronger independent investment manager well-positioned to compete as the industry continues to evolve. The net present value of the transaction is estimated to be $1.9B. Under the agreement, The Hartford will receive $300M in cash at closing and additional payments based on the available after-tax cash generated by the combination of Hartford Funds' business and Wellington's business supporting Hartford Funds, including the sale of certain other Wellington-sponsored products in the U.S. wealth market, over 7 years following the close of the transaction. The deal is expected to close in the first quarter of 2027, subject to regulatory and fund approvals.
