Henderson Group confirmed today that the group is in talks with the U. S. banking group SunTrust to buy its US asset management business, RidgeWorth Capital Management. Henderson is likely to acquire all the businesses of RidgeWorth except its money market funds.

Henderson is taking this step to boost its exposure to American institutional investors.

The sources close to the matter said that the deal could be worth between £195 million and £260 million. However, Henderson did not provide any further information about the deal. An announcement of the outcome of the discussions is expected to come within next month.

"Discussions with SunTrust regarding a possible transaction are ongoing and there is no certainty that any transaction in relation to RidgeWorth will proceed," Henderson said in a statement.

According to SunTrust Group, RidgeWorth currently has assets worth $63.1 billion under its management. RidgeWorth's business currently includes eight fund boutiques involved in fixed income, domestic and international equity management.

However, market analysts expect that Henderson could raise the funds through equity finance if it proceeds with the acquisition of RidgeWorth.