Aberdeen Standard Investments and 21 Partners today announced the establishment of a new UK based 50:50 joint venture (JV) – 21 Aberdeen Standard Investments Limited (21ASI) – with the intention of Aberdeen Standard Investments launching a direct €1bn private equity fund later this year.
The investment strategy for the fund will target active non-controlling interests with a focus on providing patient capital for the long term. The fund aims to support and facilitate growth in companies without owners ceding majority stakes in their business.
Beyond funding, 21ASI will provide portfolio companies with the support to help them manage challenges including managing their growth, the potential for disruption within their industry, and those posed by succession and generational changes in their companies.
The geographical focus for the fund will be on Europe and the fund term will be up to 15 years. The fund will also target opportunistic transactions or special opportunities which are time sensitive and with a shorter term investment horizon.
Investments will be identified by 21ASI, its JV partners and other stakeholders. 21ASI will be based in its own offices in London with an initial team of six people. The Board of the JV will be led by Alessandro Benetton with the members drawn equally from both JV partners.
Alessandro Benetton, Founder and Managing Partner 21 Partners comments:
“I’m excited about launching this initiative with an outstanding partner that shares the values that have always characterized our investment activity. Creating sustainable value for companies requires increasingly more time and an industrial approach. I believe that this innovative fund represents the perfect combination of factors to help entrepreneurs and companies face the challenges that the market poses without changing the control of companies.”
Aberdeen Standard Investments Co-Chief Executive Martin Gilbert comments:
“The joint venture is a powerful combination of a team led by one of the most reputable figures in the private equity industry combined with our own expertise in that area and a global footprint which will greatly enhance the marketability of the product. This is an exciting opportunity to provide a direct private equity offering to our clients. There is a clear demand from them for private markets products which offer attractive returns and important diversification.”
Ends
Notes to editors
- Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
- With over 1,000 investment professionals we manage €638 billion* of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
- We are high-conviction; long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance. We are resolute in our commitment to active asset management.
- Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on 14 August 2017.
*Standard Life AUM/AUA data as at 30 September 2017.
21 Partners is a European investment firm, investing in mid-market companies through local funds. The group, created by Alessandro Benetton, has completed about 100 investments in the mid-market over the past 26 years.
Important Information
The value of investments, and the income from them, can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to future results. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Target yields are not guaranteed to be achieved. We recommend that you seek financial advice prior to making an investment decision.
Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction. Any research or analysis used to derive, or in relation to, the above information has been procured by us for our own use, without taking into account the investment objectives, financial situation or particular needs of any specific investor, and may have been acted on for own purpose. No warranty is given as to the accuracy, adequacy or completeness of the information contained in this communication and no liability for errors or omissions in such information. Readers must make assessments to the relevance, accuracy and adequacy of the information contained in this communication and make such independent investigations, as they may consider necessary or appropriate for the purpose of such assessments. Any opinion or estimate contained in this communication are made on a general basis. No information contained herein constitutes investment, tax, legal or any other advice, or an invitation to apply for securities in any jurisdiction where such an offer or invitation is unlawful, or in which the person making such an offer is not qualified to do so.
This communication is available for distribution by the following Aberdeen Asset Management affiliates:
Issued by Aberdeen Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered in Scotland No. 108419.