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Aberdeen Asset Managers' private equity team has bought itself out and rebranded to Maven Capital Partners UK, amid a swathe of management buyouts in the alternatives sector.

Bill Nixon, formerly head of investment at Aberdeen Asset Managers Private Equity and now managing partner at Maven, led the buyout alongside senior executives Andrew Craig, Jock Gardiner, Stella Panu, Bill Kennedy and Andrew Ferguson.

The growth capital investment and portfolio team will move to Maven as a result of the deal.

The new house will continue to run funds on Aberdeen's behalf, as well as the £54m in its seven VCTs. It has also taken on Aberdeen's private-equity back-office team.

Bill Nixon, formerly head of investment at Aberdeen Asset Managers Private Equity and now managing partner at Maven, said he was looking to rename the group's seven VCTs to Maven 1-7 from the four different brands under which they currently operate, subject to approval from the trusts' boards.

He said he was also looking to acquire new VCT mandates and expand the group's back-office services in Glasgow, on the grounds the price of real estate and manpower was lower than in London.

"There are a lot of highly qualified accounting staff who are less expensive," he added.

The group will continue in its current offices in three of its locations and look for new premises in two others, including London.

The deal follows the recent management buyout of Close Ventures, the largest VCT manager, and its rebranding to Albion Ventures.

Patrick Reeve, managing partner at Albion, remarked at the time of the deal that it was fitting for an entrepreneurial business such as venture capital to be run by its employees.

But such buyouts of smaller alternative managers at large organisations may also come as a relief to board members, giving them fewer non-core headaches at a time of stress in the industry.

Mr Nixon echoed these positions and described his own buyout as a "natural evolution for the team, more in line with current industry practice", although Aberdeen will still retain a stake in the firm and a veto on any major proposals outside the course of everyday business.

"We spend our life on buyouts," he said. "It's a very powerful message to say we've done one ourselves."

The team will run £160m of lower mid-market assets in total and be based in Aberdeen, Glasgow, Manchester, Birmingham and London.

The company typically supports "established and entrepreneurial management teams at private companies" valued at up to £25m with management buyout finance, acquisition finance, replacement capital and development capital.

Deals at the firm average 6-10 a year, with a total value of £25m-£35m.