Wellington Management announced that it has entered into a definitive agreement to acquire Hartford Funds from The Hartford in a transaction with an estimated net present value of $1.9 billion. Upon closing, Hartford Funds will be integrated into Wellington’s U.S. Wealth business and will operate under the Wellington brand.
The acquisition transforms a strategic partnership that has existed for more than four decades into a single integrated wealth management platform. The combined organization is expected to provide financial advisors and investors with broader access to investment capabilities, a larger distribution network, and enhanced support across the U.S. wealth management market.
According to the companies, the transaction combines Wellington’s institutional investment management expertise with Hartford Funds’ advisor distribution platform and intermediary relationships. The combined organization will include approximately 200 client-facing professionals serving advisors and investors.
Wellington and Hartford Funds have maintained a close relationship since 1978, with a formal sub-advisory partnership beginning in 1984. Today, Wellington sub-advises approximately 83% of Hartford Funds’ roughly $160 billion in assets under management.
The companies said the integration will expand access to investment products across mutual funds, ETFs, separately managed accounts (SMAs), model portfolios, and alternative investments. Wellington expects the combination to strengthen its position in the U.S. wealth management market while creating a more unified experience for advisors and clients.
Under the terms of the agreement, The Hartford will receive $300 million in cash at closing and additional payments over seven years based on the after-tax cash generated by the combined business. The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and fund approvals.
KEY QUOTES:
“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, Wellington Management
“We are proud of the strong advisor-centric 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.”
Christopher Swift, Chairman and CEO, The Hartford
“This combination sharpens our competitive edge and value to advisors and our clients, uniting Wellington’s investment capabilities and global wealth and institutional experience with Hartford Funds’ U.S. distribution scale and trusted team. I am excited by our collective strengths and the potential to innovate and deliver world-class investment solutions, deeper insights, and expanded access to Wellington, including alternatives, a compelling union after decades of close partnership.”
Christina Kopec Rooney, Head of U.S. Wealth, Wellington Management
“Hartford Funds’ and Wellington’s partnership is rooted in shared values, organizational alignment and a focus on delivering investment excellence for advisors and investors. We are excited to become part of a single, integrated Wellington platform and believe this combination represents not only continuity for our clients and teams, but also a reaffirmation of our shared investment philosophy. We look forward to working together to build on our history and create new opportunities for growth and innovation.”
Greg Frost, President, Hartford Funds
