Federated Hermes to Acquire Muni SMA Specialist C.W. Henderson

Federated Hermes Inc. says it has agreed to acquire C.W. Henderson and Associates Inc., a Chicago-based investment advisory business specializing in the management of separately-managed municipal-bond accounts.

The initial purchase price is expected to be $30 million, with another $20 million in contingent payments over the next five years. The transaction is expected to close in the third quarter, according to Federated’s 8K filing Monday morning.

C.W. Henderson is the adviser to $3.63 billion in municipal SMAs, according to Federated Hermes. The firm was founded in 1990, its website shows.

“Combining the proven investment acumen of C.W. ...