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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Schroders plc    SDR   GB0002405495

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Schroders : agrees to buy Swiss private equity firm Adveq

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04/21/2017 | 10:28am CEST

British asset manager Schroders said on Thursday it had agreed to buy Swiss-based private equity firm Adveq Holding for an undisclosed sum.

Traditional asset managers are increasingly expanding into alternative investment markets such as private equity to meet growing demand from investors such as pension funds seeking diversification in order to generate the returns needed to meet their liabilities.

The deal for Adveq, which manages more than $7 billion, is expected to close in the second half of 2017, Schroders said in a statement. Schroders' private assets arm currently manages 14 billion pounds in assets.

Schroders, Britain's largest listed standalone asset manager with around 400 billion pounds in assets, said there would be no changes to Adveq's investment team, process or strategies as a result of the deal.

"Adveq's impressive investment proposition, proven track record and strong position within key markets makes this partnership a complementary combination," said Schroders Chief Executive Peter Harrison in a statement.

Founded by Bruno Raschle in 1997, Adveq invests across a range of private equity strategies including venture capital, buyouts, co-investments and secondaries, and has expanded from its Swiss-German home markets to Asia and the United States.

(Reporting by Simon Jessop; Editing by Greg Mahlich)

By Simon Jessop

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Financials ( GBP)
Sales 2017 1 945 M
EBIT 2017 674 M
Net income 2017 533 M
Finance 2017 3 594 M
Yield 2017 3,10%
P/E ratio 2017 16,53
P/E ratio 2018 15,49
EV / Sales 2017 2,55x
EV / Sales 2018 2,27x
Capitalization 8 553 M
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Number of Analysts 18
Average target price 32,4  GBP
Spread / Average Target 1,1%
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Peter Harrison Chief Executive Officer & Executive Director
Michael William Romsey Dobson Chairman
Richard Keers Chief Financial Officer & Executive Director
Stewart Carmichael Chief Technology Officer
Bruno Schröder Non-Executive Director
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