Aberdeen AM to buy remaining £29m stake in joint venture

Aberdeen Asset Management is to purchase the remaining shares in its SVG private equity joint venture Aberdeen SVG Private Equity for £29m.

In May 2013, Aberdeen already acquired a 50.1 per cent stake in Aberdeen SVG Private Equity from SVG Capital, with the option of purchasing the remaining 49.9 per cent stake.

The transaction is part of the asset manager’s move to strengthen its alternatives platform.

As a result of the deal, the combined team of over 20 investment professionals will oversee £6bn AUM and will be led by Graham McDonald.

The transaction is subject to regulatory notification and certain other customary matters and is expected to be completed in the first half of 2015.

Aberdeen Asset Management global head of alternatives Andrew McCaffery says: “The purchase of the minority stake is a natural progression for Aberdeen in establishing a truly global PE franchise as we look to build on the established foundations of our alternatives platform.

“Institutional investors are increasingly looking towards alternative asset classes, with access to private markets being a key element of diversifying their portfolios and enhancing returns.”

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