Edinburgh investment giant Abrdn has announced that Mark Redman, its global head of private equity, has left the company “to pursue other opportunities.”

Abrdn refuted speculation in a London newspaper that it is considering selling its private equity business.

Abrdn has assets under management and administration of about £540 billion — with about £13 billion in private equity.

In a statement, Abrdn said: “Mark Redman, global head of private equity, has left the business to pursue other opportunities.

“Mark is an experienced and successful private markets investor and leader who leaves our private equity business positioned for the future.

“We have enjoyed working with him and wish him well for the future.

“There will be no change to our private equity leadership team who will move to report to Chris Demetriou, CEO UK, EMEA and Americas, and the underlying investment processes and teams remain unchanged.”