Aberdeen to launch €1bn fund in joint venture with 21 Partners
UK-based asset manager Aberdeen Standard Investments and Italian GP 21 Partners have signed a partnership agreement to create a joint venture, 21 Aberdeen Standard Investments, with the aim to launch a тЌ1bn private equity fund in the coming months.
The vehicle, which will have a 15-year lifespan, will acquire minority stakes in European businesses to support their growth and help them face new challenges such as disruption within their industry and generational changes in their management team.
In addition to this main investment strategy, the fund will also target attractive companies with high-growth potential for shorter investment opportunities.
The joint venture, which will be based in London, will be led by 21 Partners founder and managing partner Alessandro Benetton, while the executive board will be equally split between members of both firms.
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