Schroder Adveq picks up UK tail-end stakes

The firm's mature secondaries fund has acquired stakes in vehicles managed by Vision Capital, DH Private Equity and Abingworth, among others.

Schroder Adveq has acquired a bundle of tail-end stakes in UK private equity funds from various European sellers, regulatory filings show.

The firm used its its Adveq Mature Secondaries and BKMS vehicles to pick up interests in Doughty Hanson IV and V, Vision Capital Partners VI and Abingworth Bioventures IV. The respective sellers were Generali Capital Developpement, Montaigne Capital and Iena Holding for the Vision stakes and Quartilium via ACG Capital, according to the filings.

Pricing details were not disclosed.

The 2004-vintage Doughty Hanson IV raised €1.5 billion, according to PEI data. Remaining assets in the fund are Italian air freshener manufacturer Zobele and French manufacturer of concrete products KP1, according to firm website. Doughty rebranded to DH Private Equity Partners this year.

The 2007-vintage Doughty Hanson V raised €3 billion, according to PEI data. The remaining assets in that fund are compliance outsourcing firm TMF Group and oil & gas logistics firm Asco.

Vision Capital Partners VI raised €354 million in 2006. According to the firm’s website there is one remaining asset in Fund VI: UK electronics and white goods seller BrightHouse.

Abingworth Bioventures IV is a 2003-vintage, $350 million fund focused on biotech and life sciences. Investors in the fund include Blackstone and Ontario Teachers’ Pension Plan, according to PEI data.

Remaining assets in the fund include medical device manufacturer Broncus and Pixium Vision, which develops bionic vision systems for blind people.

Swiss private equity firm Adveq was acquired by London-headquartered Schroders in a deal completed in July. Adveq has raised around $133 million out of its $200 million target, according to PEI data.

Adveq and DH Private Equity declined to comment. Generali, Montaigne, Iena, Vision, Abingworth and Quartilium did not return requests for comment by press time.