View more on these topics

Aberdeen private equity lead MBO

Senior executives of the private equity team at Aberdeen Asset Management have led a management buy-out to form a new private equity business, Maven Capital Partners.

The buy-out was headed by Aberdeen Asset Management private equity head of investment Bill Nixon, as well as senior executives Andrew Craig, Jock Gardiner, Stella Panu, Bill Kennedy and Andrew Ferguson.

Maven will continue to manage funds on Aberdeen’s behalf, with the back-office team that supports Aberdeen and third-party client funds also moving to Maven.

The private equity offering was launched as a separate division by Aberdeen in 2004. The business has around £54m of VCT client funds invested in 29 new private equity company transactions in that time.

The Maven team also manages the £30m Capital for Enterprise fund on behalf of Capital for Enterprise Managers.

Aberdeen is to remain as a partner of Maven and will retain a significant minority stake in the business.

Aberdeen Asset Management chief executive Martin Gilbert says: “”I am delighted that Bill Nixon and his team have taken the opportunity to undertake a buy-out of Aberdeen’s private equity business. In common with current industry practice, the management team will now have a majority stake in their new business, thereby aligning their long-term interests with those of their clients and investors, and I am very pleased that Aberdeen will be retaining a significant minority stake in the new business. Bill and his team have run a very successful private equity operation for many years within Aberdeen, and they leave with our thanks and very best wishes for the future.”


FSA challenges advisers over wrap charges

He asked delegates: “Given that what the bulk of what platforms do is to drive efficiencies and support services that advisers provide the customers, why is it that cost of wraps are charged directly to the customer rather then being an overhead to the advisory firm?

Corporate governance changes must cut deep

Over recent months, much has been made of the review done by Lord Turner with regard to the banking industry. However, just on the horizon is the publication of the review of the state of corporate governance within the financial services industry by Sir David Walker.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm