Aberdeen Asset Management has agreed to acquire Value Partners Concord Asset Management (VPCAM), a Taiwan-based fund manager, from shareholders Value Partners Group and Concord Securities.
VPCAM, set up in 2011, currently oversees the Value Partners Concord Greater China Value Fund, which reported $4.1m of assets under management at the end of May 2017.
Aberdeen has present in Taiwan since 2007. At present, the company operates 26 Luxembourg-registered offshore funds.
Upon completion of the deal, which is subject to regulatory nod, Aberdeen plans to merge VPCAM with its Taiwan-based subsidiary Aberdeen International Securities Investment Consulting Company (AISICCL).
The companies have not disclosed the financial terms of the deal.
The latest deal comes close on the heels of Aberdeen’s £11bn merger with Standard Life Investments (SLI), which recently secured the green light from the competitions regulator. SLI does not have a direct presence in Taiwan.