* Adveq manages $7 bln across private equity strategies
* Will become part of Schroders' 14 bln stg real assets unit
* Deal expected to close in second half of 2017
(Adds detail from statement, CEO quote, background, bullet
By Simon Jessop
LONDON, April 20 British asset manager Schroders
said on Thursday it had agreed to buy Swiss-based
private equity firm Adveq Holding for an undisclosed sum.
Traditional asset managers are increasingly expanding into
alternative investment markets such as private equity to meet
growing demand from investors such as pension funds seeking
diversification in order to generate the returns needed to meet
The deal for Adveq, which manages more than $7 billion, is
expected to close in the second half of 2017, Schroders said in
a statement. Schroders' private assets arm currently manages 14
billion pounds ($17.91 billion) in assets.
Schroders, Britain's largest listed standalone asset manager
with around 400 billion pounds in assets, said there would be no
changes to Adveq's investment team, process or strategies as a
result of the deal.
"Adveq's impressive investment proposition, proven track
record and strong position within key markets makes this
partnership a complementary combination," said Schroders Chief
Executive Peter Harrison in a statement.
Founded by Bruno Raschle in 1997, Adveq invests across a
range of private equity strategies including venture capital,
buyouts, co-investments and secondaries, and has exapnded from
its Swiss-German home markets to Asia and the United States.
($1 = 0.7816 pounds)
(Reporting by Simon Jessop; Editing by Greg Mahlich)