Schroders ups private equity ante

Schroders says it has reached an agreement to acquire Adveq Holding AG (Adveq). It describes its planned new buy as a high-quality specialist private equity solutions business with strong year-on-year growth in assets under management since inception 20 years ago.

Schroders says the acquisition accelerates the growth of its private assets business and complements existing capabilities and expertise in the real estate and infrastructure finance sectors.

Schroders says that with more than US$7bn of client commitments and a predominately Swiss and German client base, Adveq’s clients include some of the largest and most highly regarded institutional investors and pension funds in the region. In recent years, Adveq has also successfully established a premium client base in the US and other international markets, it adds.

Peter Harrison, group chief executive of Schroders, 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 make this partnership a complementary combination. We look forward to introducing Adveq’s unique capabilities to our clients.”

There will be no changes to the investment team, process or strategies that Adveq manages on behalf of clients.

Financial terms of the transaction are not disclosed and the acquisition is expected to complete in the second half of 2017 subject to usual closing conditions, including regulatory approvals.