Wellington Management to acquire Hartford Funds from The Hartford

Investment manager Wellington Management and The Hartford have entered into a definitive agreement under which Wellington will acquire Hartford Funds, a 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.

The net present value of the transaction is estimated to be $1.9 billion. Under the agreement, The Hartford will receive $300 million in cash at closing and additional payments based on the available 3 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.

Wellington and Hartford Funds have been partners since 1978. Today, Wellington sub-advises 83% of Hartford Funds’ approximately $160 billion in assets.

“For more than 40 years, Wellington and Hartford Funds have partnered together in support of advisors and investors, and I’m excited about what this combination means for the future of both organizations. Wellington’s nearly century-long investment heritage is underscored by a deep commitment to supporting advisors, investors, and employees, and I know that the Hartford Funds team shares this commitment. Together, we are building on the strengths that have defined our relationship to reinforce our commitment to the U.S. wealth market through expanded access to investment capabilities, broader distribution reach, and enhanced resources for advisors and investors. I look forward to continuing to build on the strengths that have defined our partnership together in the years ahead.” – Jean Hynes, CEO and managing partner at Wellington Management.

“We are proud of the strong advisorcentric fund company that we have built, powered by Wellington’s outstanding investment capabilities for many years. This transaction allows us to realize immediate and continued value for The Hartford’s shareholders and positions Hartford Funds’ exceptional people for ongoing success. This combination creates the ideal long-term home for Hartford Funds.” – Chairman and CEO of The Hartford Christopher Swift .