Santander reportedly in discussions to purchase Abrdn’s private equity unit
Santander Asset Management is reportedly in talks to buy out Abrdn’s private equity unit, according to Sky News.
Santander in talks to buy Abrdn’s private equity arm
The Spanish banking giant’s asset management arm is said to be one of a small number of parties contending to take over the business from Abrdn, the Sky News report says. It adds that a deal could potentially be made in the next few months, with the unit being valued at around £250 million.
Abrdn’s private equity business has its origins in Standard Life Investments. Standard Life was merged with Aberdeen Asset Management to form Standard Life Aberdeen in 2017 prior to the company’s rebrand to Abrdn in 2021.
The Scottish wealth management firm has been busy remodelling itself in recent years and has made a number of acquisitions – most recently buying the largest stake in digital securities exchange Archax and acquiring Interactive Investor in a £1.5 billion deal in 2021.
Across its investments, adviser and personal businesses, the company claims to manage and administer around £508 billion of assets for clients including individuals, governments, pension funds, insurers, companies, charities and foundations.
