More traditional asset managers will seek to buy private equity firms if returns from other asset classes continue to drag, according to Sven Liden, who left Swiss fund-of-funds firm Adveq after it was acquired by UK asset manager Schroders last year.

Liden, who this week joined private equity secondaries investment firm Montana Capital Partners as chief operating officer, told FN's sister publication Private Equity News that he expects to see more deals similar to the Adveq takeover.