UK fund manager abrdn to sell private equity business to Brazil's Patria
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Oct 16 (Reuters) - British fund manager abrdn said on Monday it will sell its European-headquartered private equity business to Brazilian firm Patria Investments for an upfront cash consideration of 60 million pounds ($72.86 million).
"We are continuing to reduce complexity and are focusing on areas where we are confident we can drive growth in the future," abrdn CEO Stephen Bird said.
($1 = 0.8235 pounds) (Reporting by Radhika Anilkumar in Bengaluru)
