Aberdeen Standard Investments has formed a 50:50 joint venture (JV) with private equity investment firm 21 Partners to launch a €1bn private equity fund later this year.
The JV, dubbed 21ASI, will be based in London and initially employ six staff.
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The JV’s board will be headed by Alessandro Benetton, with equal representation from both partners.
Aberdeen Standard Investments co-CEO Martin Gilbert said: “This is an exciting opportunity to provide a direct private equity offering to our clients. There is a clear demand from them for private markets products which offer attractive returns and important diversification.”
The new fund will focus on Europe and take non-controlling stakes in companies to support their growth in the long term.
The fund, which has 15-year duration, will also support companies in managing their growth and disruptive forces.
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By GlobalData21 Partners founder and managing partner Alessandro Benetton said: “Creating sustainable value for companies requires increasingly more time and an industrial approach. I believe that this innovative fund represents the perfect combination of factors to help entrepreneurs and companies face the challenges that the market poses without changing the control of companies.”
