Staff
Aberdeen Asset Management has entered into an agreement to acquire New York-based Arden Asset Management for an undisclosed amount.
The acquisition is in line with its strategy to strengthen and grow its global alternatives platform, says Aberdeen.
Arden is a hedge fund specialist that creates and manages hedge fund portfolios. It advises on and manages assets on behalf of a wide range of clients, including corporate and state pension plans, sovereign wealth funds, global bank platforms and retail investors.
The transaction, which is subject to regulatory approval, is expected to close in the fourth quarter of 2015.
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