Wellington Management will acquire Hartford Funds from The Hartford in a deal that turns a 40-year partnership into a single U.S. wealth business.
The transaction carries an estimated net present value of $1.9 billion, based on an 11% discount rate. Under the agreement, The Hartford will receive $300 million in cash at closing, plus additional payments over seven years tied to after-tax cash generated by Hartford Funds’ business and Wellington’s business supporting Hartford Funds, including sales of certain Wellington-sponsored products in the U.S. wealth market.
Hartford Funds oversees about $160 billion in assets, and Wellington currently subadvises 83% of that total. The business is supported by a 160-plus-person client-facing team. After the acquisition, the combined organization will have about 200 client-facing professionals.
Wellington said the acquired business will be folded into its U.S. wealth operation and will operate under the Wellington brand. The new platform will combine Wellington’s investment management capabilities with Hartford Funds’ advisor distribution network and servicing infrastructure.
The firms said the relationship began in 1978 and became a formal subadvisory partnership in 1984. Since then, the partnership has expanded beyond mutual funds into ETFs and additional investment strategies.
Wellington said its own assets under management were more than $1.35 trillion as of April 30, 2026. The firm serves more than 2,500 clients in more than 60 countries.
The deal is expected to close in the first quarter of 2027, pending regulatory and fund approvals. As a result of these announcements, the company's shares have moved 0.0% on the market, and are now trading at a price of $127.17. Check out the company's full 8-K submission here.
