Fund management veteran Martin Gilbert and a cohort of heavyweight backers have acquired a minority stake in a London-listed company to pursue deal opportunities in the financial services sector.

The former vice-chair of Standard Life Aberdeen, who stepped down from the Edinburgh-headquartered asset manager in September after more than 35 years, has teamed up with former colleague Peter McKellar, ToscaFund Asset Management and several other parties to acquire a 29.8% stake in AssetCo.