Aberdeen and Standard Life to merge PE and infra roles

18-year SL Capital veteran Peter McKellar will sit on the investment management committee as head of private equity and infrastructure equity.

Standard Life and Aberdeen Asset Management have unveiled a post-merger investment leadership team that will see infrastructure and private equity gathered under a single umbrella.

The proposed investment management committee, comprising 12 members, includes Peter McKellar, who is to assume the role of global head of private and infrastructure equity. McKellar is currently head of SL Capital, the private markets arm of Standard Life, which runs investment programmes in both asset classes.

Asked whether respective heads for infrastructure and private equity would also be named in due course, a spokeswoman for Standard Life told Infrastructure Investor that it was too early to say. “We are still in the initial integration planning phase of the merger and will not be in a position to confirm further changes, appointments or roles until completion.”

The news comes days after shareholders in both companies voted overwhelmingly in favour of a £3.8 billion ($4.8 billion; €4.3 billion) merger, announced in March, that will create an investment behemoth with around 9,000 employees and £660 billion under management.

The 12-strong investment management committee proposed for the new entity also includes two co-heads for real estate, namely David Paine (from Standard Life) and Pertti Vanhanen (from Aberdeen).

McKeller leads SL Capital Partners, which is the private equity and infrastructure equity arm of Standard Life Investments, and he has been with the company since 1999. He is also head of private markets solutions for Standard Life Investments.

Also on the proposed investment management committee is Aberdeen’s global head of alternatives Andrew McCaffery, who will be “global head of client-driven and multi-manager solutions”. McCaffery spoke with PEI in March 2016. Read about the nature of his role at Aberdeen and his thoughts on leverage, dry powder and the changing nature of the LP-GP relationship here.