Aberdeen Asset Management has bolstered its global alternatives platform by completing the acquisition of Arden Asset Management, a US-based hedge fund specialist with offices in New York and London.
Aberdeen said that its global alternatives platform includes multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects.
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The deal will allow Aberdeen to now provide its clients access and exposure to a universe of high-quality alternative investments, covering liquid strategies, private markets and real assets.
The combined hedge fund solutions team, which is located in London and New York with $10.3bn in assets under management, provides commingled funds, customized portfolios, mutual funds and advisory services to a global, blue-chip client base of individual and institutional investors.
Following the deal, Aberdeen will become the investment adviser to the Arden Alternative Strategies Fund and Arden Alternative Strategies II.
Also, the Arden Funds will be reorganized into newly created series of Aberdeen Funds, Aberdeen Multi-Manager Alternative Strategies Fund and Aberdeen Multi-Manager Alternative Strategies Fund II the first quarter of 2016.
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By GlobalDataThe transaction will enable Aberdeen to enter into portfolios of liquid-alternative products domiciled in the US.
Aberdeen Asset Management global head of alternatives Andrew McCaffery said: "The development of liquid-alternative portfolios and products, built off our broader hedge fund solutions platform, is an area that we are increasingly confident will grow in 2016 and beyond."
