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Abrdn Targets Red-Hot Private Equity Market to Improve Fortunes

  • Asset manager looking to launch range of private equity funds
  • The firm has created a new unit to make direct investments

Abrdn Plc has set up a new unit that will focus on taking equity stakes in companies, becoming the latest investment giant seeking to profit from an ongoing private equity boom.

The 530 billion-pound ($713 billion) asset manager created the new unit after completing a strategic review of its private markets business, according to people familiar with the matter. As part of this initiative the firm is weighing the launch of a stable of private equity funds in 2022, one of the people said.