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Hermes Investment Management
Hermes Investment Management was founded in 1983 as the in-house manager for the BT Pension Scheme, one of the UK's largest corporate pension funds.
Hermes Investment Management
Hermes Investment Management was founded in 1983 as the in-house manager for the BT Pension Scheme, one of the UK's largest corporate pension funds. The firm operates as a standalone asset manager with a distinct ownership structure — majority-owned by the BT Pension Scheme but serving a broad institutional client base. Saker Nusseibeh, CEO since 2002, has shaped the firm around long-term, engagement-driven investing. Hermes runs multi-asset portfolios spanning public equities, fixed income, real estate, infrastructure, private equity, and credit. The firm is known for its stewardship arm, EOS, which engages with over 1,000 companies globally on governance and sustainability issues. Direct holdings include investments in renewable energy infrastructure, UK commercial real estate, and private debt strategies. Geographically, Hermes allocates across the UK, Europe, North America, and emerging markets. The firm manages £31.2 billion (per the firm, 2024) and employs roughly 300 professionals across three offices: London, Edinburgh, and Dublin. In June 2023, Hermes launched a new biodiversity-focused engagement strategy under EOS, targeting 100 companies on nature-related risks (per Hermes, June 2023). The firm also operates a philanthropic foundation, the Hermes Source of Hope, focused on childhood education. Hermes is structurally distinct as an asset manager born from a single pension mandate but now competing for external institutional capital under a fiduciary model with explicit stewardship obligations. Its ownership by the BT Pension Scheme provides a stable, long-term capital base that aligns with its patient investment approach — a governance structure rare among multi-asset managers of its scale.
General information
Firm type
Asset Manager
Year founded
1983
AUM
£31.2 billion (per Hermes Investment Management, 2024)
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Additional offices
Edinburgh · Dublin
Principals
Saker Nusseibeh
Chief Executive Officer
Gary Clarke
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Hermes Investment Management?
CEO Saker Nusseibeh leads the firm, with Gary Clarke serving as Chief Investment Officer overseeing multi-asset portfolios. The firm has a centralized investment committee that sets asset allocation and risk parameters, while individual portfolio managers retain discretion within those guidelines (per Hermes Investment Management, 2024).
How is Hermes Investment Management structured?
Hermes is a standalone asset manager majority-owned by the BT Pension Scheme but operates independently, serving external institutional clients alongside the pension scheme. It is not a single-family office; it competes as an institutional asset manager with a fiduciary mandate and a dedicated stewardship arm called EOS (per the firm, 2024).
What is Hermes's approach to stewardship and ESG?
Hermes integrates environmental, social, and governance analysis into all its investment processes, not as a separate overlay. Through its EOS engagement team, Hermes actively dialogues with over 1,000 companies globally on issues including climate risk, board diversity, and human rights (per Hermes, 2024).
Does Hermes investment management invest in private markets?
Yes, Hermes has dedicated teams for real estate, infrastructure, and private equity. The firm manages direct holdings in renewable energy infrastructure, UK commercial property, and private credit strategies. It also participates in co-investments alongside external managers (per public record).
What investment stages does Hermes typically target?
Hermes invests across the capital structure — from public equities and fixed income to private equity and infrastructure. In private markets, it targets core and core-plus real estate, renewable energy infrastructure, and direct lending. The firm does not typically engage in venture capital or early-stage equity (per public record).
Where does Hermes Investment Management's underlying capital come from?
The firm's original and largest client is the BT Pension Scheme, but it now manages capital for a diverse set of institutional investors including corporate and public pension funds, insurance companies, sovereign wealth funds, and endowments across the UK, Europe, and North America (per the firm, 2024).
Does Hermes Investment Management maintain philanthropic structures?
Yes, the Hermes Source of Hope foundation is a registered charity focused on improving childhood education. It is funded separately from the investment management business and operates independently from the firm's commercial activities (per Hermes, 2024).
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