One of Britain’s biggest fund managers is preparing to offload the business which manages private equity funds as part of its ongoing streamlining under chief executive Stephen Bird.
Sky News has learnt that abrdn has hired investment bankers to find a buyer for the division, which managed nearly £14bn in assets at the end of last year.
His most ambitious deal was the £1.5bn takeover of Interactive Investor, which recently completed, catapulting abrdn into the top ranks of Britain’s direct-to-consumer investment providers.
Abrdn managed close to £550bn in assets at the end of last year.
Read more: Sky News
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