Scottish-founded Aberdeen Asset Management, an independent international FTSE 100 company, announced an agreement Tuesday to acquire Arden Asset Management LLC, a provider of hedge fund solutions with offices in New York and London, from Philadelphia.
Specializing in corporate and state pension plans, sovereign wealth funds, global bank platforms and retail investors, Aberdeen anticipates leading the market with over 30 investment professionals and approximately $11 billion in combined managed assets.
The transaction’s benefits suit Aberdeen’s strategy to strengthen its alternative and global platform with enhanced national and global investment positioning and access to liquid alternative U.S. product portfolios. The company will also be able to offer clients access and exposure to high quality alternative investments across private markets and real assets.
"We are thrilled to be joining Aberdeen, a leader in the global asset management industry,” Arden CEO & Chairman Averell Mortimer said. “The deal creates a combined hedge fund platform with international reach overseen by an experienced team of investment and operational professionals.”
Aberdeen defines itself by its pure focus on asset management, including equities, fixed income, property and multi-asset portfolios. The company is committed to straightforward, transparent investment approaches.
The transaction is subject to regulatory approval from the U.K. FCA, notification to the Irish Central Bank, and approval by the board of trustees and certain shareholders. Completion is expected during 2015’s fourth quarter.
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