Allspring seeks European acquisitions to expand global scale

Chief executive Kate Burke said Allspring Global Investments had already informally sounded out potential targets in Britain and elsewhere in Europe and wanted businesses that could strengthen its product range and international footprint, with interest in firms managing up to $20 billion in assets and perhaps more. Less than 10% of Allspring’s assets are managed outside its home market, making Europe a focus.

A BCG 2026 global report found more than 80% of industry revenue growth in 2025 came from market performance rather than managers themselves, while fees fell, costs rose and margins had not moved in 15 years. Smaller and mid-sized managers face a tougher mix of fee compression and higher fixed costs, keeping consolidation, partnerships and sub-advisory arrangements high on the strategic agenda, according to Moody's. Low-cost index products from BlackRock and Vanguard keep pressure on firms that still rely on active-management economics.

The firm was formed in 2021 when GTCR and Reverence Capital Partners acquired Wells Fargo Asset Management, and Wells Fargo still holds about a 10% stake. Burke became chief executive on July 1, 2025, after joining Allspring in 2023, and fixed income now accounts for roughly two-thirds of assets. Burke has also kept the firm away from private assets such as private credit and infrastructure, and tighter private-credit spreads validated that choice.

On April 14, 2026, it agreed to acquire the investment team of GIA Partners, adding emerging-markets corporate debt capability to its $485 billion fixed-income platform, and on May 11 it named Sophie Freemantle head of international product. Its website lists sales coverage for French-speaking Europe from Luxembourg and an international client group based in London, while company materials put assets under advisement at about $628 billion and show roughly 19 offices globally.