Aberdeen acquires majority stake in SVG Advisers

The acquisition forms part of Aberdeen's strategy for growth and could enable the firm to create a private equity fund-of-funds business with almost £5bn in assets under management, should it acquire the remainder of the company in three years time. The deal will create a new business called Aberdeen SVG Private Equity, combining SVGA with Aberdeen's existing private equity activity.

SVGA currently has £4bn of private equity assets under management and will add significantly to Aberdeen's £0.7bn PE portfolio. The remaining 49.9% stake will come at a cost of at least £20m, with an upper limit of £35m.

Lynn Fordham, CEO of SVGC, will lead Aberdeen SVG Private Equity, while Anne Richards, chief investment officer, and John Brett, head of distribution, will represent Aberdeen on the company's board.

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