SWFI First Read, April 23, 2017

Schroders to Buy Adveq

In a bid to diversify into the lucrative world of alternative investments, Schroders PLC, a FTSE 100 investment management company, made its move to buy Adveq Holding AG (Adveq), a specialist private equity business. Adveq was founded in Zurich in 1997. Bruno E. Raschle, Executive Chairman of the Board of Directors at Adveq, is the principal shareholder of Adveq Holding. At 2015, the majority of Adveq’s clients are mostly located in Europe, according to filing data.

In the press release, it state, “there will be no changes to the investment team, process or strategies that Adveq manage on behalf of clients.”

Law firm Debevoise & Plimpton LLP was the legal advisor for Adveq Holding and its shareholders regarding its acquisition by Schroders.

State Street Beefs up Asset Owner Business with New Hires

State Street Corporation hired Hemant Bhide to serve as the head of the U.S. Asset Owner business, and Bruce Shain to serve as a senior vice present and client service department manager. Bhide will report to Stephen Nazzaro, executive vice president at State Street and head of Asset Owners for the Americas. Bruce Shain will report to Bhide.

Previously, Bhide was a Partner at PricewaterhouseCoopers (PwC) in the financial services advisory practice.
Previously, Shain was at BNY Mellon, working as a managing director and segment head of U.S. Corporate, Government and Non-Profit businesses.

GIC Buys Two Blocks of Student Housing from Frasers Property Australia

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