SVG Capital has completed the sale of 50.1 per cent of SVG Advisers to Aberdeen Asset Management.
The combined business will be branded Aberdeen SVG and will be led by SVG Capital’s chief executive Lynn Fordham (pictured).
Aberdeen SVG brings together SVG Advisers’ and Aberdeen’s private equity teams’ experience and combines SVG Advisers’ expertise and track record with Aberdeen’s distribution platform, creating a private equity fund management business with assets under management or advice of GBP5.1bn.
The cash consideration of GBP17.5m, together with the fair value of the company’s investment in the combined business will be included in the June 2013 net asset value and is expected to add a minimum of GBP37.5m (14.8p per share) to the net asset value of the company.
