Aberdeen AM buys out SVG joint venture

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Aberdeen Asset Management  (Aberdeen AM) has confirmed a £29m purchase of SVG Capital plc’s stake in their joint venture vehicle, Aberdeen SVG Private Equity Managers Limited, in a bid to expand its alternatives platform.

Aberdeen AM  acquired a 50.1% stake in Aberdeen SVG Private Equity from SVG Capital plc two years ago, with the option of obtaining the remainder in future. The acquisition is part of an effort to strengthen Aberdeen’s alternatives platform which provides multi-manager coverage of hedge funds, property and private equity allocations, infrastructure investments and pan-alternative capabilities, the group stated.

The majority of the Aberdeen SVG Private Equity team will be fully integrated into Aberdeen’s private equity team, led by Graham McDonald, the team of 20 investment professionals will oversee a total of £6bn (€8.24bn) in assets.

Andrew McCaffery (pictured), global head of Alternatives at Aberdeen Asset Management, comments: “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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