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Aberdeen acquires US asset manager and private equity specialist stake

Aberdeen’s Martin Gilbert

Aberdeen Asset Management has accelerated its growth strategy after acquiring a US asset manager and buying a majority stake in SVG Advisers.

The company has bought Artio Global Investors, a US-based specialist fixed income asset manager, for about £112m. The firm has assets under management of around £9.2bn across its retail and institutional business.

Aberdeen says the acquisition “adds significant scale” to its US fixed income operations and complements its efforts to grow its distribution in the country. It will also add Artio’s established global high yield and US total return offerings to its line-up.

Martin Gilbert, chief executive of Aberdeen, says: “This transaction is in line with Aberdeen’s strategy of undertaking infill acquisitions that will assist with growing our business organically. It will be of benefit to our North American business, a region we view as a key growth market for Aberdeen.”

In addition, the firm has acquired a 50.1 per cent stake in private equity specialist SVG Advisers, paying about £17.5m. This move fits in with Aberdeen’s strategy of buying smaller business to accelerate its organic growth.

SVG Advisers runs about £4bn in assets under management and advice. Upon completion, the company will be integrated with Aberdeen’s private equity fund of funds business, which manages around £700m.

Aberdeen also has the option to buy the remaining 49.9 per cent of SVG Advisers at any time from the third anniversary of completion.

Gilbert says: “SVGA’ s considerable experience and track record, combined with Aberdeen’ s own asset management expertise and global distribution network will position us well to meet demand from investors seeking exposure to private equity.”

Both deals are subject to customary closing conditions and are expected to complete at some point in 2013.

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