Federated Hermes, Inc. (NYSE:FHI) agreed to acquire an additional 29.5% stake in Hermes Fund Managers Limited from BT Pension Scheme for approximately £120 million on August 18, 2021. Following completion, BT Pension will no longer have an ownership interest in Hermes Fund. Federated Hermes will fund the transaction through a combination of cash and borrowings from its existing credit line. The transaction is eexpected to close on August 31, 2021. Federated Hermes, Inc. (NYSE:FHI) completed the acquisition of the additional 29.5% stake in Hermes Fund Managers Limited from BT Pension Scheme on August 31, 2021.