Schroders completes private equity acquisition
Schroders has announced the completion of the acquisition of Adveq, a global private equity firm.
The acquisition, which was announced on 20 April, as reported, has now received approval from the regulators, with Adveq now renamed Schroder Adveq.
Schroders said that the acquisition of Adveq accelerates the growth of its’ private assets business, with more than US$7bn of client commitments.
The finalising of the deal will mark a return of sorts by Schroders to the private equity sector, which it left in 2001. That was the year that an in-house private equity entity known as Schroders Ventures, founded in 1983, was spun off, and its European division – at that point renamed Permira – went on to become one of the private equity industry’s leading players.
The US arm of Schroders Ventures continues as Greenwich, Connecticut-based SV Investment Partners.
“We are pleased to have received such a high level of support from our clients and other stakeholders for our partnership with Schroders,” said Sven Lidén, chief executive of new Schroder Adveq brand.
“Schroder Adveq, as we are now known, remains committed to delivering the strong investment performance and high quality client service that investors have come to expect from our team over the 20 years since we first launched.”
Stephen Mills has joined the Schroder Adveq board as executive chairman. Bruno Raschle, founder of Schroder Adveq, remains on the board in a new capacity of non-executive vice-chairman, the company said.
Headquartered in Switzerland, Schroder Adveq employs more than 100 people around the world. Adveq’s clients include some of the institutional investors and pension funds in Switzerland, Germany and across the world. In recent years, Adveq has also successfully established a premium client base in the US and other international markets.
Schroder Adveq has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing, and Hong Kong.