Former Aberdeen Standard Investments duo Alex Barr and James Witter have reunited to launch their own private equity boutique.
Bread Street Capital Partners will aim to broaden investor access to global private markets including private equity, infrastructure, private debt and real assets.
As managing partners Barr (pictured right) and Witter (pictured left) will help drive the strategic growth of the business and manage the company’s first fund, a London-listed vehicle, when it launches.
Initially they will concentrate on developing a series of “innovative” stock-exchange listed private markets funds. Portfolios will deliver responsible thematic, financing stage or manager exposures, according to a press release.
The pair have over 60 years’ experience combined during which time they have managed or overseen £60bn worth of private market assets. They worked together closely in ASI’s private equity team, with Barr serving as head of private equity and global head of private markets investment oversight and Witter as head of private equity portfolio management.
Investors remain under allocated to private equity
Barr said the hope is Bread Street will become a key partner for institutional and professional clients who need client-driven private markets expertise.
In addition to offering its own range of portfolios, Bread Street will provide asset managers with investment advisory, legacy portfolio rationalisation, operating framework design and risk oversight services.
“We are delighted to launch Bread Street Capital Partners as the UK starts to return to the office,” Barr said.
“Private markets is the most exciting growth area in asset management yet most investors remain under allocated and miss the opportunity the asset class presents to enhance returns.”
Barr and Witter will be supported by Abigail Sater who has been appointed COO. Sater previously worked with the pair at ASI as head of global distribution strategy and was COO of the Big Exchange.
Barr has held senior investment roles at Janus Henderson and Deutsche Asset Management and previously ran the Aberdeen Private Equity and Henderson Alternative Strategies trusts, which have since been liquidated.
Witter managed the Irish-listed Aberdeen Private Equity Global fund and has held senior roles at SVG Advisers, Nomura and Merrill Lynch.