Senior executives at Aberdeen Asset Management have led a management buyout to create Maven Capital Partners, an independent private equity business.
The MBO was led by Bill Nixon, current head of investment at Aberdeen Asset Managers Private Equity.
He was joined by senior executives Andrew Craig, Jock Gardiner, Stella Panu, Bill Kennedy and Andrew Ferguson.
The company's investment strategy will continue to focus on private company investments and the management of client funds, including seven venture capital trusts. Maven will also continue managing funds on Aberdeen's behalf.
Previously the Aberdeen private equity business was a standalone venture, which had been built up since 2004 to include £54m of VCT client funds invested in 29 private company transactions, along with other undertakings.
The company will be a UK lower mid-market private equity firm, managing roughly £160m of capital and will operate from offices in Aberdeen, Glasgow, Manchester, Birmingham and London.IFAonline
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