abrdn Private Equity Opps team to remain 'unchanged' after £100m manager sale
Alan Gauld (pictured), senior investment director at abrdn, is the lead manager of APEO.
On Monday (16 October), abrdn announced it had agreed to sell its European-headquartered private equity business, which holds £7.5bn in assets, to Patria Investments in a £100m deal, following the sale of its US private equity and venture capital unit earlier this month.
The sale includes abrdn Capital Partners, which is the £1.1bn investment trust's investment manager and Alternative Investment Fund Manager (AIFM).
abrdn to sell European private equity business for £100m
In a stock exchange notice today (17 October), the board said it had received assurances from abrdn and Patria that APEO's investment management team will remain unchanged should the transaction proceed.
abrdn also confirmed that «appropriate arrangements» will be put in place to maintain the existing administration and other services currently provided by abrdn or third party service providers.
The APEO investment management team is currently composed of Alan Gauld, Patrick Knechtli, Mark Nicolson, Simon Tysko and Ramone Moody.
«The board is evaluating the impact of the transaction on the company and its management team and is continuing to have constructive discussions with Patria,» the board said.
«No changes will be made to the company's existing management and administration arrangements prior to the transaction completing. The board will provide an update to APEO's shareholders on the progress of the transaction in due course.»
abrdn completes sale of $4bn US private equity and venture capital business to alternatives boutique
In a research note, Winterflood analyst Elliott Hardy said the deal removed a «certain degree of uncertainty overhang» which has
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