Private equity

Drawing on our deep, long-standing relationships with private equity firms worldwide, we look to bring together best-in-class primary, secondary, co-investments and niche strategies.

At Aberdeen Standard Investments, we are ideally placed to leverage our large and connected private equity team, extensive networks and deep research capabilities to identify and access attractive investment opportunities for our clients.

Investing in private equity across the globe requires experience, specialist knowledge and shrewd judgement – exactly the combination we offer our clients.

Key Benefits*

  • We have over 50 private equity professionals globally, bringing invaluable on-the-ground insight and expertise
  • £13 billion AUM
  • Presence in Europe, US and Asia
  • We offer a huge range of private equity solutions for our clients, having raised over 100 vehicles, backed over 500 private equity general partners (GPs) and having made over 1,000 fund commitments
  • We hold over 400 advisory board seats.

We are also able to leverage huge resources from across Aberdeen Standard Investments, including industry-leading economic research, a global distribution network, dedicated legal, due diligence, finance, operations and risk teams. We also have a dedicated global ESG resource. This means our clients have access to the best investment insights from across the our whole business.

*Source: Aberdeen Standard Investments. All data as at 30 June 2018.

ASI Private Equity Barometer Q2 2020

What we offer our clients

Primary=Investments

Primary investments

Primary investments are those made in private equity funds during their initial capital-raising. A portfolio of primary fund investments, also known as a fund-of-funds, gives investors access to the expertise of multiple fund managers and a variety of companies through a single investment. Our long experience as a primary investor means our clients can benefit from the following:

  • A rigorous, time-tested evaluation process
  • Access to leading managers globally, providing exceptional choice of opportunities
  • More than 25 years of relationship building, so we fully know our general partners and can be confident in our investment decisions
  • A process with ESG interaction at its core.

Secondary-Investments

Secondary investments

Secondary investments involve the buying and selling of pre-existing investor commitments to private equity funds. We are well placed and active in the secondary market where our deep relationships, strong reputation and network of intermediaries give us a distinct advantage and allow us to offer our clients excellent access to this market

Co-investments

Co-investments

Private equity co-investments, or direct investments, are investments made alongside another GP directly into companies. There are many benefits to co-investing, including the ability to gain exposure to what we believe are attractive investment opportunities whilst avoiding a layer of fees. Again, our strong, long-standing relationships with GPs, combined with our proven experience, mean we are leading players in this segment of the market.

Bonaccord Capital

Bonaccord Capital Partners

A direct private equity investment strategy seeking to acquire minority equity interests in established alternative asset management companies. The core focus includes mid-market private equity, private credit, real estate, and real assets. The strategy aims to generate a current yield profile that does not rely on leverage.

Equity Trust

Investment Trust

The investment objective is to achieve long-term total returns through holding a diversified portfolio of private equity funds and direct investments into private companies alongside private equity managers (“co-investments”), a majority of which will have a European focus.

https://www.slpet.co.uk
  • Primary investments

    Primary investments are those made in private equity funds during their initial capital-raising. A portfolio of primary fund investments, also known as a fund-of-funds, gives investors access to the expertise of multiple fund managers and a variety of companies through a single investment. Our long experience as a primary investor means our clients can benefit from the following:

    • A rigorous, time-tested evaluation process
    • Access to leading managers globally, providing exceptional choice of opportunities
    • More than 25 years of relationship building, so we fully know our general partners and can be confident in our investment decisions
    • A process with ESG interaction at its core.

  • Secondary investments

    Secondary investments involve the buying and selling of pre-existing investor commitments to private equity funds. We are well placed and active in the secondary market where our deep relationships, strong reputation and network of intermediaries give us a distinct advantage and allow us to offer our clients excellent access to this market

  • Co-investments

    Private equity co-investments, or direct investments, are investments made alongside another GP directly into companies. There are many benefits to co-investing, including the ability to gain exposure to what we believe are attractive investment opportunities whilst avoiding a layer of fees. Again, our strong, long-standing relationships with GPs, combined with our proven experience, mean we are leading players in this segment of the market.

  • Bonaccord Capital Partners

    A direct private equity investment strategy seeking to acquire minority equity interests in established alternative asset management companies. The core focus includes mid-market private equity, private credit, real estate, and real assets. The strategy aims to generate a current yield profile that does not rely on leverage.

  • Investment Trust

    The investment objective is to achieve long-term total returns through holding a diversified portfolio of private equity funds and direct investments into private companies alongside private equity managers (“co-investments”), a majority of which will have a European focus.

    https://www.slpet.co.uk

Key documents

A guide to bonds

The outlook for private equity from ASI’s Research Institute.

Download or read the document

Our team

Merrick Mckay

Merrick McKay

Head of Europe - Private Equity

Merrick joined SL Capital, now part of Aberdeen Standard Investments (“ASI”), in 2014 and is based in the Edinburgh and London offices. ASI’s European Private Equity business, with over €8bn AuM, encompasses primary and secondary fund investments and co-investment activities undertaken by a team of over 30 investment professionals. Merrick is Head of Europe and a member of the ASI Private Equity Investment Committee.
An Australian, Merrick has over 25 years’ experience in the European private equity industry. Prior to joining ASI, Merrick was Head of European Investments and Senior Partner of Macquarie’s Private Markets division. Previous roles include 13 years as a Partner and Investment Committee member of Primary Capital (the London-based, lower mid-market private equity firm) where he was responsible for leading, originating and managing numerous private equity investments in the UK. Merrick holds Bachelor of Commerce and Bachelor of Laws degrees from the University of Queensland.
Merrick is a regular speaker at private equity conferences, and is a member of Invest Europe’s Limited Partner Council.

Mark Nicolson

Mark Nicolson

Head of Primary Investments

Mark is based in Edinburgh and joined Aberdeen Standard Investments in 2007. He is responsible for making investments across the private equity spectrum (Primaries, Secondaries and Co-investments) as well as having overall responsibility for ASI's Primary Investment business.

Mark is a member of ASI's Private Equity Operating Committee and Investment Committee. He also sits on the Advisory Boards of a number of leading private equity funds. Prior to the merger that created ASI in 2017, Mark was a Partner and Head of Primary Investments at SL Capital Partners where he joined in 2007. Before this, Mark spent seven years working as a lead adviser in the corporate finance teams of EY and KPMG, focusing principally on buyouts. Mark is a Chartered Accountant and has BA (Joint Honours) degrees in Accounting and Economics from the University of Strathclyde. Mark is also a Fellow of the Chartered Institute for Securities & Investment.

Patricl Knechtli

Patrick Knechtli

Head of Secondaries

Based in Edinburgh, Patrick heads up the secondaries team of Aberdeen Standard Investments and is involved across the private markets activities of the firm. He joined predecessor firm SL Capital in 2009, which then merged with AAM’s private markets business in 2017. Prior to joining SL Capital, Patrick spent eight years at Coller Capital in London, where he worked on numerous secondary portfolio transactions. His early career consisted of seven years in investment banking, first at Baring Brothers and then at ABN Amro Corporate Finance. Patrick has a MA (Hons) in Modern Languages from the University of Exeter and is fluent in French and Spanish.

Collin Burrow

Colin Burrow

Head of Co-Investments

Colin Burrow is Head of Co-Investments based in the Edinburgh office. He is responsible for all aspects of co-investing including sourcing, evaluating and execution. He is a member of the Investment Committee. Colin joined Aberdeen in 2014 from the Scottish Widows Investment Partnership (SWIP) heritage team. Prior to joining SWIP in 2013, he led a dedicated co-investment team at Lloyds Banking Group responsible for origination and asset management. Colin joined Lloyds from Bridgepoint where as an Investment Director he spent six years investing in mid-market European buyouts. He began his career advising on mid-market buyouts with Andersen Corporate Finance. Colin holds an LLB (Hons) in Law from the University of Strathclyde and a Securities Institute Diploma.

John Dickie

John Dickie

Co-Head of Private Equity USA

John Dickie is Co-Head of Private Equity USA based in the Boston office. His primary responsibilities include sourcing, evaluating and executing primary investments and co-investments and he is a member of the Investment Committee. John joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where he held a role of Principal. Prior to joining FLAG in 2010, John was a Principal at Berkshire Partners. Previously, he worked at DLJ Merchant Banking Partners as a Senior Analyst-Private Equity. He began his career with Credit Suisse First Boston as a Financial Analyst in the Investment Banking division. John holds an MBA from Harvard Business School and a BA in Economics from Middlebury College.

Scott Reed

Scott Reed

Co-Head of Private Equity USA

Scott Reed is Co-Head of Private Equity USA based in the Boston office. He joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where he held a similar role as Partner and Head of the Private Equity strategy. Prior to joining FLAG in 2007, Scott was a Principal at Portico Capital LLC, and a Senior Associate at J.H. Whitney & Co. Previously, he worked at Goldman, Sachs & Co. and Morgan Stanley Dean Witter & Co. Scott holds an MBA from the Amos Tuck School at Dartmouth College and a BA in Economics with Mathematics Concentration from Colby College and the London School of Economics.

Peter Lawerence

Peter Lawrence

Co-Head Global Venture Capital

Peter Lawrence is Strategic Director, Alternatives based in the Stamford office. He is a dedicated senior member of the Global Venture Capital team. Peter joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where he was a Founding Partner and Co-Head of the Venture Capital strategy. Prior to FLAG, Peter spent twelve years managing both direct and indirect venture capital and private equity portfolios as Executive Vice President of the Marshall Field family office. He also previously worked for The Continental Group and W.R. Grace & Co. Peter holds an MBA from Harvard Business School and a BA in Psychology from Trinity College.

Kirsten Morin

Kirsten Morin

Co-Head Global Venture Capital

Kirsten Morin is a Senior Investment Manager focused on the Global Venture Capital strategy based in the Stamford office. Her primary responsibilities include sourcing, evaluating and executing primary investments. Kirsten joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where she held a similar role of Principal. Prior to joining FLAG in 2005, she worked for IBM in a variety of analytical roles. Kirsten holds a BS in Finance and Accounting from Babson College.

Ajay Chitkara

Ajay Chitkara

Head of Bonaccord Capital

Ajay Chitkara is Head of Bonaccord Capital Partners (GP Investments), where he is a voting member of the investment committee. Ajay and his team source, evaluate and execute structured investments in alternative asset management companies. Ajay joined Aberdeen with a team from Guggenheim Partners, where he was Senior Managing Director within the Alternatives Investment Division. Before Guggenheim Partners, Ajay was a Managing Director at SwissRe Capital Markets and Advisory, and one of the founding members of the Equity and Fund Linked Group. Ajay spent more than a decade of his career at Morgan Stanley within Investment Banking and Capital Markets both New York and London.

  • Merrick McKay

    Head of Europe - Private Equity

    Merrick joined SL Capital, now part of Aberdeen Standard Investments (“ASI”), in 2014 and is based in the Edinburgh and London offices. ASI’s European Private Equity business, with over €8bn AuM, encompasses primary and secondary fund investments and co-investment activities undertaken by a team of over 30 investment professionals. Merrick is Head of Europe and a member of the ASI Private Equity Investment Committee.
    An Australian, Merrick has over 25 years’ experience in the European private equity industry. Prior to joining ASI, Merrick was Head of European Investments and Senior Partner of Macquarie’s Private Markets division. Previous roles include 13 years as a Partner and Investment Committee member of Primary Capital (the London-based, lower mid-market private equity firm) where he was responsible for leading, originating and managing numerous private equity investments in the UK. Merrick holds Bachelor of Commerce and Bachelor of Laws degrees from the University of Queensland.
    Merrick is a regular speaker at private equity conferences, and is a member of Invest Europe’s Limited Partner Council.

  • Mark Nicolson

    Head of Primary Investments

    Mark is based in Edinburgh and joined Aberdeen Standard Investments in 2007. He is responsible for making investments across the private equity spectrum (Primaries, Secondaries and Co-investments) as well as having overall responsibility for ASI's Primary Investment business.

    Mark is a member of ASI's Private Equity Operating Committee and Investment Committee. He also sits on the Advisory Boards of a number of leading private equity funds. Prior to the merger that created ASI in 2017, Mark was a Partner and Head of Primary Investments at SL Capital Partners where he joined in 2007. Before this, Mark spent seven years working as a lead adviser in the corporate finance teams of EY and KPMG, focusing principally on buyouts. Mark is a Chartered Accountant and has BA (Joint Honours) degrees in Accounting and Economics from the University of Strathclyde. Mark is also a Fellow of the Chartered Institute for Securities & Investment.

  • Patrick Knechtli

    Head of Secondaries

    Based in Edinburgh, Patrick heads up the secondaries team of Aberdeen Standard Investments and is involved across the private markets activities of the firm. He joined predecessor firm SL Capital in 2009, which then merged with AAM’s private markets business in 2017. Prior to joining SL Capital, Patrick spent eight years at Coller Capital in London, where he worked on numerous secondary portfolio transactions. His early career consisted of seven years in investment banking, first at Baring Brothers and then at ABN Amro Corporate Finance. Patrick has a MA (Hons) in Modern Languages from the University of Exeter and is fluent in French and Spanish.

  • Colin Burrow

    Head of Co-Investments

    Colin Burrow is Head of Co-Investments based in the Edinburgh office. He is responsible for all aspects of co-investing including sourcing, evaluating and execution. He is a member of the Investment Committee. Colin joined Aberdeen in 2014 from the Scottish Widows Investment Partnership (SWIP) heritage team. Prior to joining SWIP in 2013, he led a dedicated co-investment team at Lloyds Banking Group responsible for origination and asset management. Colin joined Lloyds from Bridgepoint where as an Investment Director he spent six years investing in mid-market European buyouts. He began his career advising on mid-market buyouts with Andersen Corporate Finance. Colin holds an LLB (Hons) in Law from the University of Strathclyde and a Securities Institute Diploma.

  • John Dickie

    Co-Head of Private Equity USA

    John Dickie is Co-Head of Private Equity USA based in the Boston office. His primary responsibilities include sourcing, evaluating and executing primary investments and co-investments and he is a member of the Investment Committee. John joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where he held a role of Principal. Prior to joining FLAG in 2010, John was a Principal at Berkshire Partners. Previously, he worked at DLJ Merchant Banking Partners as a Senior Analyst-Private Equity. He began his career with Credit Suisse First Boston as a Financial Analyst in the Investment Banking division. John holds an MBA from Harvard Business School and a BA in Economics from Middlebury College.

  • Scott Reed

    Co-Head of Private Equity USA

    Scott Reed is Co-Head of Private Equity USA based in the Boston office. He joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where he held a similar role as Partner and Head of the Private Equity strategy. Prior to joining FLAG in 2007, Scott was a Principal at Portico Capital LLC, and a Senior Associate at J.H. Whitney & Co. Previously, he worked at Goldman, Sachs & Co. and Morgan Stanley Dean Witter & Co. Scott holds an MBA from the Amos Tuck School at Dartmouth College and a BA in Economics with Mathematics Concentration from Colby College and the London School of Economics.

  • Peter Lawrence

    Co-Head Global Venture Capital

    Peter Lawrence is Strategic Director, Alternatives based in the Stamford office. He is a dedicated senior member of the Global Venture Capital team. Peter joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where he was a Founding Partner and Co-Head of the Venture Capital strategy. Prior to FLAG, Peter spent twelve years managing both direct and indirect venture capital and private equity portfolios as Executive Vice President of the Marshall Field family office. He also previously worked for The Continental Group and W.R. Grace & Co. Peter holds an MBA from Harvard Business School and a BA in Psychology from Trinity College.

  • Kirsten Morin

    Co-Head Global Venture Capital

    Kirsten Morin is a Senior Investment Manager focused on the Global Venture Capital strategy based in the Stamford office. Her primary responsibilities include sourcing, evaluating and executing primary investments. Kirsten joined Aberdeen Standard Investments in 2015 from the FLAG Capital Management heritage team where she held a similar role of Principal. Prior to joining FLAG in 2005, she worked for IBM in a variety of analytical roles. Kirsten holds a BS in Finance and Accounting from Babson College.

  • Ajay Chitkara

    Head of Bonaccord Capital

    Ajay Chitkara is Head of Bonaccord Capital Partners (GP Investments), where he is a voting member of the investment committee. Ajay and his team source, evaluate and execute structured investments in alternative asset management companies. Ajay joined Aberdeen with a team from Guggenheim Partners, where he was Senior Managing Director within the Alternatives Investment Division. Before Guggenheim Partners, Ajay was a Managing Director at SwissRe Capital Markets and Advisory, and one of the founding members of the Equity and Fund Linked Group. Ajay spent more than a decade of his career at Morgan Stanley within Investment Banking and Capital Markets both New York and London.

Risk warning
Risk warning - Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not a guide to future results.