The Aberdeen Group is to follow the branding of its private equity arm Aberdeen Murray Johnstone Pri...
The Aberdeen Group is to follow the branding of its private equity arm Aberdeen Murray Johnstone Private Equity (AMJPE) with the launch of two new portfolios including a VCT for the retail market.
According to AMJPE's managing director Jonathan Diggines the second offering will be an institutional Limited Partnership Fund with a £1m minimum investment.
Diggines would not clarify the investment mandate of the VCT but said that it would broaden the current range and utilise the areas of expertise and strength of both Aberdeen and the old Murray Johnstone, which was the first group to launch a VCT in the UK in 1995.
He would not confirm whether this meant the VCT would invest solely in fledgling technology or whether Aberdeen's respected fixed interest manager Paul Reed would manage capital invested in the trust to maximise returns for investors during the holding period of up to three years while the VCT managers were finding suitable companies to invest in.
AMJPE, which currently has £470m of assets under management, has been formed following the purchase of Murray Johnstone by Aberdeen Asset Management, which was approved at an extraordinary general meeting of Aberdeen on 6 November.
From June 2019
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Hired 200 extra operational staff
Slow progress in improving diversity
Share purchase deal with assets of £28m