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Aberdeen private equity team leads buyout

Senior executives of Aberdeens private equity and venture capital trust (VCT) team have led a management buyout (MBO) to create a new private equity business. The new firm is called Maven Capital Partners.

The MBO was led by Bill Nixon, head of investment of the private equity team. Andrew Craig, Jock Gardiner, Stella Panu, Bill Kennedy and Andrew Ferguson, all senior executives, joined Nixon in forming Maven.

Maven will continue to manage funds on behalf of Aberdeen, which includes about 54m of VCT funds. The team also manage the 30m Capital for Enterprise fund on behalf of Capital for Enterprise Managers.

The back office team that supports the Aberdeen and other third party client funds is also moving to Maven.

In a statement, Martin Gilbert, chief executive of Aberdeen Asset Management, said: 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.

Related story:
Aberdeen plans to merge away two CSAM funds
Aberdeen plans Orient merger


A place in the scheme of things

As the company that pioneered scheme pensions for individuals within a Sipp, we were interested to read Andy Bell’s view in Money Marketing that it could be made redundant by future changes to alternatively secured pension rules.

Dying breed

It is clear from the announcements by Aviva and Legal & General that they have realised IFAs are no longer their willing salesforce and have decided to relaunch/grow their own tied salesforces. This is just the last breath of a dying breed that cannot realise the world has moved on without them.

Prime motivation

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Rights and wrongs

I have been an IFA for 25 years and I still get endowment complaints for business written over 15 years ago via ambulance-chasing companies.


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