Aberdeen Asset Management has agreed acquire an 80% stake in Indonesian fund house NISP Asset Management from its parent, NISP Sekuritas.
NISP Asset Management, which was spun out of NISP Sekuritas in 2011, manages roughly US$300 million in mutual funds, protected funds, and discretionary accounts on behalf of institutional, corporate and retail clients in Indonesia.
The deal is subject to approval from regulators and NISP shareholders.
Following the acquisition, NISP Asset Management will be rebranded as Aberdeen.
Currently, Aberdeen has invested nearly US$2.8 billion in Indonesian equities. Its assets under management stood at US$320.6 billion at the end of January.