Schroders to acquire private equity solutions firm Adveq
British fund manager Schroders has agreed to acquire Swiss private equity solutions business Adveq Holding for an undisclosed sum.
Adveq, set up in 1997 by Bruno Raschle, manages more than $7bn and has a predominately Swiss and German client base. The firm has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing, and Hong Kong. It invests across several private equity strategies such as venture capital, buyouts, and turnarounds.
Schroders expects the deal to accelerate the growth of its private assets business and add to its existing capabilities in the real estate and infrastructure finance sectors.
The investment team and strategies managed by Adveq will remain unchanged following the acquisition, the fund manager said.
The deal is expected to close in the second half of 2017, subject to regulatory approvals.
Schroders group CEO Peter Harrison said: “This acquisition is characterised by a strong cultural fit between our two firms – a shared client focus and commitment to delivering excellent investment performance. Adveq’s impressive investment proposition, proven track record and strong position within key markets makes this partnership a complementary combination.”
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