Aberdeen to buy Arden Asset Management and get $11 billion under management
This acquisition is in line with Aberdeen's strategy to strengthen and grow its global alternatives platform encompassing multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects.
This means that Aberdeen can offer its clients access and exposure to high quality alternative investments across liquid strategies, private markets and real assets.
Arden is a hedge fund specialist that creates and manages hedge fund portfolios across the liquidity spectrum using its proprietary manager selection and portfolio construction processes. Arden advises on and manages assets on behalf of a wide range of clients, including corporate and state pension plans, sovereign wealth funds, global bank platforms and retail investors.
In 2012, Arden launched an innovative, daily liquidity product into the US market providing diversified, alternative investment strategies allocating to many brand name underlying hedge fund managers. The business is complementary to Aberdeen's existing hedge fund solutions capability and the two teams will be fully integrated.
This will position Aberdeen as a leading hedge fund investor with over 30 investment professionals and around $11 billion of assets under management for the combined team.
The transaction is subject to regulatory approval from the UK FCA and notification to the Irish Central Bank. It is also subject to obtaining the approval of the Board of Trustees and shareholders of certain mutual funds. The aim is to complete the transaction during the fourth quarter of 2015. ■