Aberdeen Standard Investments has closed its eighth private equity fund at $425 million, beating its $350 million target. Aberdeen U.S. Private Equity VIII’s investors include corporate and public pension plans, foundations and endowments and ultra high-net worth families. The fund will invest in the lower middle market.
BOSTON, January 10, 2020 — Aberdeen Standard Investments (ASI) has closed Aberdeen U.S. Private Equity VIII (APE VIII), its eighth US private equity fund. The fundraising, which was completed in less than nine months, exceeded the firm’s $350 million target and was oversubscribed.
APE VIII, which closed on December 23rd, will invest in a strategically concentrated portfolio of small-cap private equity funds, direct investments and secondary transactions, with a geographic focus on North America. The strategy is designed to capture outperformance potential of the lower middle market private equity ecosystem.
Scott Reed, co-head of U.S. Private Equity at Aberdeen Standard Investments, comments: “Against a backdrop of compressing returns and a more competitive private equity landscape, investors are increasingly looking to tap into less efficient areas, like the lower middle market. But this is a hard segment for most investors to navigate given its breadth and complexity. We have spent nearly 20 years honing our approach to investing in this space and look forward to delivering continued strong returns for our partners.”
The fundraise attracted capital from a mix of existing clients/consultants as well as new investors, and included a blend of corporate and public pension plans, foundations and endowments, and ultra high net worth families.
Chris Demetriou, CEO of the Americas for ASI, added: “We are pleased to have completed our fastest fundraise ever for our small buyout strategy, which we believe reflects investors’ appreciation for our disciplined investment approach, the depth of our team, and our consistent outperformance.”
ASI has over 50 investment professionals globally focused on private equity and venture capital, including a 12 person team dedicated to US private equity led by co-heads Scott Reed and John Dickie.
About Aberdeen Standard Investments
· Aberdeen Standard Investments has relationships with around 500 financial sponsors across approximately 1000 funds globally.
· Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
· With over 1,000 investment professionals we manage $669.1 billion* of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which they invest.
· We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, strong investment performance.
· Aberdeen Standard Investments is the asset management business of Standard Life Aberdeen plc, one of the world’s largest investment companies.
· Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange. The Standard Life Aberdeen group was formed by the merger of Standard Life plc and Aberdeen Asset Management PLC on August 14, 2017.
* Standard Life Aberdeen AUM as of June 30, 2019.
Alternative investments involve specific risks that may be greater than those associated with traditional investments; are not suitable for all investors; and intended for experienced and sophisticated investors who meet specific suitability requirements and are willing to bear the risks with such an investment. The principal investment risks of the Fund are liquidity risk, hedging risks, credit risks, counterparty risks and risks associated with international investing to include emerging market investments. Investors should always refer to the offering material (private placement memorandum) for a complete description of the risks, fees, expenses and other important information associated with an investment in the Fund.
In the United States, Aberdeen Standard Investments is the marketing name for the following affiliated, registered investment advisers: Aberdeen Standard Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard Investments Australia Ltd., Aberdeen Standard Investments (Asia) Ltd., Aberdeen Capital Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC and Standard Life Investments (Corporate Funds) Ltd.