Schroders is to acquire Adveq Holding, a private equity solutions business, accelerating the growth of its private assets business.
The acquisition complements Schroders’ existing capabilities and expertise in the real estate and infrastructure finance sectors.
With more than USD7 billion of client commitments and a predominately Swiss and German client base, Adveq’s clients include some of the largest institutional investors and pension funds in the region. In recent years, Adveq has established a premium client base in the US and other international markets.
Peter Harrison (pictured), group chief executive of Schroders, says: “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. We look forward to introducing Adveq’s unique capabilities to our clients.”
Bruno Raschle, founder and chairman of Adveq, says: “We are delighted with today’s announcement. Partnering with Schroders, a FTSE 100 global investment management business, provides Adveq with access to new markets and an enhanced proposition for our clients. Schroders’ stable ownership structure and heritage, which is closely aligned with Adveq’s long-term investment philosophy makes this an excellent fit.”
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.
