Abrdn is considering a plan to individually sell a batch of private equity businesses which collectively have about £12 billion of investments, according to a Reuters report.

The report said Abrdn has not found a buyer for the entire portfolio.

Abrdn, which manages about £500 billion in assets, declined to comment.

The report said Abrdn has been working with advisers at Rothschild & Co to sell the package of businesses spanning the UK, the United States and continental Europe.

The planned divestment was reported in February to have attracted potential buyers including Santander Asset Management at a valuation of about £250 million.

Abrdn is now exploring the piecemeal sale following feedback from prospective bidders, the report said.

The assets on sale do not include Abrdn’s listed private equity trust.