Schroders announced the completion of the acquisition of Adveq, an asset manager specialising in private equity investments worldwide.
The takeover, which was announced by Schroders on 20 April 2017, is now approved by the supervisory authorities. Adveq was thus renamed Schroder Adveq.
The acquisition of Adveq accelerates the growth of Schroders private asset segment with a holding capacity of more than $7bn and complements existing capacities and expertise in the real estate and infrastructure sectors.
Sven Lidén, CEO of Schroder Adveq, commented: “We are delighted that our partnership with Schroders has been so broadly supported by our customers and other stakeholders. Schroder Adveq will continue to commit itself to a strong investment performance and top-quality customer service, as the investors of our team have been expecting in the last 20 years since the company was founded.”
Stephen Mills joins the board of directors of Schroder Adveq as executive chairman. Bruno Raschle, founder of Schroder Adveq, remains a member of the board of directors as a non-executive vice chairman.
Headquartered in Switzerland, Schroder Adveq employs more than 100 people worldwide. Adveq’s customer base includes some of the largest and most prestigious institutional investors and pension funds in Switzerland and Germany. In addition, Adveq has successfully opened up a high-quality customer base in the USA and other international markets over the past few years.