UK-based asset manager Schroders has acquired private equity investor Adveq.

“The acquisition of Adveq accelerates the growth of Schroders’ private assets business and complements existing capabilities and expertise in the real estate and infrastructure finance sectors,” Schroders said in a statement.

There will be no changes to the business’s investment team, process or strategies, the asset manager said.

Based in Zürich, Adveq invests through primary, secondary and co-investment transactions. It also invests in the growth and venture sectors, and manages around $7bn of client assets.

The firm closed a small buyout-focused fund at €462m in December and is currently raising a new fund for specialised private equity investments.