Overview
- The firms announced the agreement Wednesday, June 3, 2026, under which Wellington will acquire Hartford Funds for a net present value of $1.9 billion.
- Hartford will receive $300 million in cash at closing plus additional contingent payments tied to after-tax cash generated by the combined funds over seven years.
- About 400 Hartford Funds employees will join Wellington's roughly 3,000-person workforce, and Greg Frost, president of Hartford Funds, will join Wellington’s U.S. wealth business and remain president of the funds group.
- Wellington already sub-advises roughly 80–83% of Hartford Funds’ approximately $160 billion in assets, so the deal formally integrates a long-running operational relationship into a single company.
- The deal is expected to close in the first quarter of 2027 subject to regulatory and fund approvals, will retire the Hartford Funds name after closing, and marks Wellington’s first acquisition in decades as it expands into retail wealth distribution.