Standard Chartered has disposed of its private equity business to ICG Strategic Equity, underpinned by a management buyout by Affirma Capital which is owned and operated by members of the management team of the previous Standard Chartered Private Equity business. The previous management will now manage the private equity portfolio of 35 companies across Southeast Asia, India, China, South Korea, the Middle East and Africa. Affirma Capital will manage the portfolio acquired by the ICG Strategic Equity. The portfolio has exposure to some strong African assets. The terms of the agreement are confidential and the transaction is expected to be completed in 2019.