Schroders Agrees To Buy $7B PE Manager Adveq

Apr 20 2017 | 5:57pm ET

Global investment management firm Schroders has agreed to acquire Zürich-based private equity specialist Adveq Holding AG as the company expands its private assets business.

The acquisition complements Schroders’ existing capabilities and expertise in the real estate and finance sectors, the company said in a statement. Adveq has more than $7 billion in client commitments and a predominately Swiss and German client base, including some of the largest and most highly regarded institutional investors and pension funds in the region.

There will be no changes to the investment team, process or strategies that Adveq manage on behalf of clients, the statement continued. Terms of the transaction, which is subject to customary closing conditions and regulatory approvals, were not disclosed. The deal is expected to complete in the second half of 2017. 

“This acquisition is characterized by a strong cultural fit between our two firms,” said Peter Harrison, Group Chief Executive of Schroders, in the statement. “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.”

“Partnering with Schroders, a FTSE 100 global investment management business, provides Adveq with access to new markets and an enhanced proposition for our clients,” added Bruno Raschle, founder and chairman of Adveq. “Schroders’ stable ownership structure and heritage, which is closely aligned with Adveq’s long-term investment philosophy makes this an excellent fit.”

London-based Schroders is a global asset management company with more than $465 billion in assets under management for major financial institutions, pension funds, governments, charities, high net worth individuals and retail investors, invested into a broad range of active strategies across equities, fixed income, multi-asset, alternatives and real estate.

Adveq was founded in 1997 by Raschle and invests globally across all private equity strategies, including venture capital, growth capital, buyout, and turnarounds through primaries, secondaries, and direct-/co-investments. 

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