PE specialist AE Industrial sells stakes in itself to Aberdeen Standard Investments, Wafra

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Specialist private equity house AE Industrial Partners has sold minority stakes in itself to Aberdeen Standard Investments and Wafra.

The firm targets investments in aerospace, defence and government services, power generation and specialty industrial companies.

Aberdeen made the investment through its Bonaccord Capital Partners arm – a specialist investment unit for picking up stakes in GPs.

The deal comes just over a year after AEI tripled its capital under management by hauling in $1.36bn for its oversubscribed second fund in a rapid return to fundraising.

Fund II easily beat its $1bn target to reach its hard cap. The firm closed its debut fund on $680m in 2016.

AEI managing partner David Rowe said, “We are proud to partner with two highly-regarded and experienced alternative asset managers with global reach that share our vision as a specialist private equity firm with high growth potential.

“Our industry focus and proprietary origination networks present us with interesting acquisition opportunities, as evidenced by our completion of 34 acquisitions since 2015.

“The partnership with Wafra and Bonaccord will assist in funding our growth as a firm.”

Colchester Partners LLC advised AEI on the transactions. Kirkland & Ellis served as legal counsel to AEI. Fried, Frank, Harris, Shriver & Jacobson served as legal counsel to Bonaccord.

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