Schroder Adveq secondaries head leaving to launch firm – exclusive

Schroder Adveq‘s head of secondaries is leaving to launch his own firm, Secondaries Investor has learned.

Zurich-based Nico Taverna will leave the firm at the end of the year, according to three sources familiar with the matter. Details of his new endeavour are unclear.

Taverna declined to comment but a spokesman for the firm confirmed his departure.

“Schroder Adveq confirms that Nico Taverna will be leaving the firm at the end of the year to start his own venture and we wish him the very best,” the spokesman said. “The good terms on which he will be leaving has allowed us to make full plans for a smooth transition and continue the success of our secondaries investment activity.”

Taverna ranked 10th in Secondaries Investor‘s Young Guns of Secondaries list of the most impressive industry professionals under 36 and was the youngest secondaries head in the Class of 2016. He became head of secondaries within two years of joining the firm in 2012 and played a key role in designing a product aimed at mature portfolios, as well as growing the secondaries unit.

Schroder Adveq’s latest secondaries fund is its 2016-vintage Adveq Secondaries III which raised €271 million, according to Secondaries Investor data. LPs in the fund include German insurer INTER Krankenversicherung, pension fund PKDW and South African asset manager Stanlib.

The firm has $10 billion in private equity assets under management and more than 120 employees, according to its website.