Sarasin & Partners has bought Bread Street Capital, which was launched last year by the former Aberdeen Standard Investments (ASI) private equity heads Alex Barr and James Witter (pictured left, right)
The deal will see Sarasin & Partners - which has £21bn in assets under management - build out a specialist private markets business under the name Sarasin Bread Street, led by both Barr and Witter.
Sarasin Bread Street will add private markets investment and product structuring capability to Sarasin & Partners' existing asset and wealth management platform, according to the firm.
Ex-ASI pair launch private markets investment firm
The former ASI duo Barr and Witter will focus on building the investment programme and strategic growth, becoming partners of Sarasin & Partners as well.
Other key Bread Street members, Alexander Henderson, head of strategic partnerships and Guy Eastman, senior adviser, will continue in their existing roles at Sarasin Bread Street.
Alexander Henderson joins Bread Street as head of strategic partnerships
James Witter, partner, head of Sarasin Bread Street, added: "With companies staying private for longer and record levels of deal flow being seen in the industry, our deep experience and focus on quality enables us to be a trusted partner for investors seeking the best opportunities in private markets.
"The active ownership model of private equity provides the ability to deliver good ESG outcomes which complements Sarasin & Partners' recognised commitment to responsible investing."
Guy Matthews, chief executive of Sarasin & Partners, said: "Sarasin & Partners has been steadily increasing its clients' exposure to unlisted assets. This deal is a natural evolution of our strategy and will allow us to access a wider and more differentiated range of private markets opportunities.
"Alex and James's focus on long-term, responsible investing, combined with their expertise and commitment to clients, is completely aligned with our core values, and underpins their desire to work with a company with a heritage of ESG and stewardship."
