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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 US asset manager Artio Global Investors and buying a majority stake in private equit firm SVG Advisers.

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

Aberdeen says the acquisition “adds significant scale” to its US fixed-income operations and complements its efforts to grow its distribution in the country.

Aberdeen chief executive Martin Gilbert says: “This transaction is in line with Aberdeen’s strategy of undertaking infill acquisitions that will assist with growing our business organically.”

In addition, the firm has acquired a 50.1 per cent stake in SVG Advisers, paying about £17.5m.

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

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

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

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