SL Capital Partners has entered into an agreement to manage Aviva Investors’ private equity portfolio from 1 February 2016. SL Capital is a subsidiary of Standard Life Investments.
With the majority of the private equity portfolio in run-off, Aviva Investors has taken the decision to delegate the management and monitoring of the portfolio to SL Capital, while the economic interests remain with Aviva Group clients. This will ensure strong and committed resources for Aviva Group clients during this run-off process.
SL Capital will utilise its substantial European footprint to integrate the management and monitoring of 115 private equity fund investments, representing around £630 million of assets. Kevin Carey from Aviva Investors will join SL Capital in its London office to provide continuity with his in-depth knowledge of the portfolio.
Peter McKellar, Senior Managing Partner and CIO of SL Capital, says: “We are delighted that Aviva Investors has selected SL Capital to manage its ongoing interests in the private equity asset class and thank them for their confidence in building this partnership. We believe that our well established team, robust management tools and fund reporting capabilities will provide Aviva with a cost effective, high quality solution that will add value over the long-term to their private equity investments. We are also pleased to welcome Kevin, an experienced private equity investment professional, to the SL Capital team.”