Britain’s Abrdn to offload private equity arm – Sky News

(Reuters) -British asset manager Abrdn Plc is preparing to sell its private equity business as part of a streamlining process under Chief Executive Stephen Bird, Sky News reported on Tuesday.

Investment bankers at Rothschild have been appointed to oversee the sale process and find a suitable buyer for the unit, the report said, citing sources familiar with the matter. (https://bit.ly/3OjnTPa)

Abrdn and Rothschild declined to comment.

Bird joined the company as CEO in 2020, when it was known as Standard Life Aberdeen. (https://reut.rs/3cqChIh)

(Reporting by Rachna Dhanrajani in Bengaluru; Editing by Krishna Chandra Eluri)