Aberdeen Murray Johnstone Private Equity, formed when Aberdeen took over its Scottish rivals earlier this year, has made two investments and secured a mandate to advise the Greater Manchester Pension Fund's £20m (€32m) venture fund, all in the week before Christmas.

The Greater Manchester Pension Fund has run a local venture capital fund since 1980s. Its most recent effort, Ventures North West II, is almost fully invested and the pension fund's trustees have decided to launch its third incarnation under the management of Aberdeen Murray Johnstone.