Fund manager Schroders is expanding its private markets footprint with an agreement to acquire Adveq Holding AG, a specialist private equity solutions business.
Adveq has $7 billion in client commitments from its predominately Swiss and German client base, and its clients include some of the largest and most highly regarded institutional investors and pension funds in the region. Adveq has also started to expand into the USA and other international markets in recent years.
Peter Harrison, the group chief executive at Schroders, commented: “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.”
Bruno Raschle, Founder and Chairman of Adveq, said: “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.”