Patria Investments, a Nasdaq-listed private markets investment management fund with over $2bn in AUM, is acquiring abrdn Private Equity, the $7.5bn European-headquartered private equity business of abrdn plc.
The sale includes all European and global private equity funds and mandates managed or advised by abrdn Private Equity, as well as the entirety of its 55 staff across dedicated investment and operational support teams.
Patria’s acquisition also marks the launch of its new business vertical, Patria Global Private Markets, which the firm says provides clients with a gateway to private markets on a global scale, and is a step for Patria to offer proprietary investment capabilities beyond Latin America.
Financial details of the transaction, which is expected to close in H1 2024, have not been disclosed.
