SLI restructures private equity business

Standard Life Investments has reorganised its private equity division into a limited liability partn...

Standard Life Investments has reorganised its private equity division into a limited liability partnership, with 40% owned by the existing management team. The group said this is designed to ensure continuity of management and a greater alignment of interest between investors and the management team. The division runs various private equity fund of funds vehicles, structured as limited partnerships, plus the Standard Life European Private Equity Trust. The business has €5n of assets under management. The re-organisation will become effective on 1 October subject to FSA authorisation.