The British asset management company Abrdn, active in Switzerland, is making a strategic turn. It's offloading its European-based private equity business.
Abrdn is divesting its private equity business, which operates from Europe, selling to Nasdaq-listed Patria Investments which is primarily active in Latin America.
According to a statement, the deal is expected to close in the first half of next year.
Strategic Decision
Abrdn previously divested its private equity business in the United States, selling it to Boston investment firm High Vista Strategies.
The sale was based on a strategic review of its Alternatives business, with the proceeds from the divestitures better deployed in its core investment business.
In February, Abrdn divested its wealth management business in the UK, which Liechtenstein-based LGT Bank acquired.
