Schroders accelerates growth of private assets business with acquisition of Adveq
Schroders today announces it has reached agreement to acquire Adveq Holding AG (Adveq), a high-quality specialist private equity solutions business, with strong year-on-year growth in assets under management since inception 20 years ago.
The acquisition of Adveq accelerates the growth of Schroders’ private assets business and complements existing capabilities and expertise in the real estate and infrastructure finance sectors.
With more than $7 billion of client commitments and a predominately Swiss and German client base, Adveq’s clients include some of the largest and most highly regarded institutional investors and pension funds in the region. In recent years, Adveq has also successfully established a premium client base in the US and other international markets.
Peter Harrison, Group Chief Executive of Schroders, said:
“This acquisition is characterised by a strong cultural fit between our two firms – a shared client focus and commitment to delivering excellent investment performance. 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.”
Bruno Raschle, Founder and Chairman of Adveq, said:
“We are delighted with today’s announcement. Partnering with Schroders, a FTSE 100 global investment management business, provides Adveq with access to new markets and an enhanced proposition for our clients. Schroders’ stable ownership structure and heritage, which is closely aligned with Adveq’s long-term investment philosophy makes this an excellent fit.”
There will be no changes to the investment team, process or strategies that Adveq manage on behalf of clients.
Financial terms of the transaction are not disclosed and the acquisition is expected to complete in the second half of 2017 subject to usual closing conditions, including regulatory approvals.
Adveq Holding AG
Founded in 1997 by Bruno Raschle, Adveq is a leading asset manager investing in private equity globally. Adveq invests in all private equity strategies, including venture capital, growth capital, buyout, and turnarounds through primaries, secondaries, and direct-/co-investments.
Adveq’s client base comprises institutional investors such as pension funds, insurance companies, endowments, family offices, and other financial institutions located in Europe, North America, and the Asia-Pacific region. For its clients Adveq is a long-term partner for investments in private equity.
Adveq has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing, and Hong Kong.