$495 Billion UK Asset Manager Abrdn to Sell European Private Equity Business with £7.5 Billion Assets for £60 Million, Recently Sold United States Private Equity & Venture Capital Business with £4 Billion Assets to HighVista Strategies
21st October 2023 | Hong Kong
UK asset manager Abrdn with $495 billion AUM has announced to sell the European private equity business with £7.5 billion assets for £60 million, having recently sold United States private equity & venture capital business with £4 billion assets to Highvista Strategies. Stephen Bird, abrdn’s CEO:” The sale of our European private equity business to Patria Investments closely follows the completion of the sale of our US private equity division to HighVista Strategies. This latest transaction underscores our commitment to reshaping our investments business, aligning with our earlier guidance. We are dedicated to simplifying our operations and focusing on areas where we anticipate robust growth in the future.” In May 2023, UK asset manager Abdrn with $630 billion (£500 billion) AUM (Assets under Management) appointed Co-CEO Investments René Buehlmann as the sole CEO Investments. More info below:
“ $495 Billion UK Asset Manager abrdn to Sell European Private Equity Business with £7.5 Billion Assets for £60 Million, Recently Sold United States Private Equity & Venture Capital Business with £4 Billion Assets to HighVista Strategies “
$630 Billion UK Asset Manager Abdrn Appoints René Buehlmann as CEO Investments with Co-CEO Chris Demetriou Leaving Abdrn after 9 Years, René Buehlmann is 29 Years UBS Veteran Including as UBS Head of Asset Management APAC
11th May 2023 – UK asset manager Abdrn with $630 billion (£500 billion) AUM (Assets under Management) has appointed Co-CEO Investments René Buehlmann as the sole CEO Investments. Abdrn Co-CEO Investments Chris Demetriou who is Abdrn CEO Investments (UK, EMEA & Americas), will be leaving Abdrn after 9 years (2014). René Buehlmann had joined Abdrn in 2021 from UBS, spending 29 years at UBS holding several senior leadership roles including UBS Head of Asset Management APAC, Global Head of Investment Funds, Head of Investment Products & Services Hong Kong, Head of Lending Products Americas.
Abdrn CEO Investments, René Buehlmann
René leads our business across Asia Pacific and joined in March 2021. He has deep experience of leadership roles in global financial markets, including in corporate banking, wealth and asset management.
Before his appointment, René spent 29 years at UBS. Between 2014 and 2019 he was Head of Asset Management Asia Pacific and part of the regional UBS Group Executive Committee. He was responsible for managing and developing the business across segments and distribution channels, as well as ensuring engagement with clients, regulators, industry bodies and key stakeholders. In addition he was managing and developing the global Wholesale business strategy.
He moved to Asia in 2005 to support UBS Wealth Management’s expansion in the region, heading a number of leadership roles – including Global Head of Investment Funds and Head of Investment Products & Services Hong Kong. In addition to his experience in Asia, he also spent four years in New York as Head of Lending Products Americas before taking on the functional responsibility for UBS Wealth Management’s lending products across all of its global locations out of Zurich.
About abrdn
Abrdn is a global investment company that helps clients and customers plan, save and invest for the future. Our purpose is to enable our clients to be better investors. Abrdn manages and administers £500bn of assets for clients (as at 31 December 2022). Our strategy is to deliver client-led growth. We are structured around three businesses – Investments, Adviser and Personal – focused on their changing needs. The capabilities in our Investments business are built on the strength of our insight – generated from wide-ranging research, worldwide investment expertise and local market knowledge. Our teams collaborate across regions, asset classes and specialisms, connecting diverse perspectives and working with clients to identify investment opportunities that suit their needs. As at 31 December 2022, our Investments business manages £376bn on behalf of clients – including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.
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