abrdn set to offload private equity business - reports

£14bn AUM

Investment bankers have been appointed to find a buyer for the private equity arm of abrdn, as the fund house continues to undergo upheaval.

According to Sky News, Rothschild has been appointed to oversee the sale of the £14bn assets under management the business holds. The news comes following recent change at abrdn, with the property team losing a dozen team members just last week. The five people leaving abrdn as result of equity team merger Earlier this month, five people left the firm as a result of the merger of the UK and European equity teams. In May, abrdn completed its purchase of interactive investor in a deal worth £1.5bn. abrdn declined to comment on the private equity sale.