ICG-backed Affirma Capital to acquire the private equity business of Standard Chartered.

ICG-backed Affirma Capital, a private equity firm, agreed to acquire the private equity business of Standard Chartered, a financial services provider. Financial terms were not disclosed. “The SCPE team has streamlined the Group’s private equity business over the past few years, in line with our stated objectives. This transaction will see the Group exit the majority of its private equity exposure, and gives the SCPE team an opportunity to pursue an independent future with the backing of ICG Strategic Equity," Simon Cooper, Standard Chartered CEO, Corporate, Commercial & Institutional Banking.