Standard Life reorganises private equity business

All activities of SLI (Private Equity) Ltd will be transferred into new investment vehicle, SL Capital Partners LLP, and the nine mangers of the original partnership will remain on board with a 40% stake. A spokesman for Standard Life says the move is not related to problems in world credit markets, which has caused two US banks to be lumbered with over $20bn of private equity debt that they cannot sell. Instead, the changes comes following Standard Life’s demutualisation in September 2006. He says: “With the new structure, if the ownership of Standard Life were to change to someone who i...