Aberdeen has hit the acquisition trail with two new deals, agreeing to buy US asset manager Artio Global Investors and taking a majority stake in private equity fund of funds business SVG.
Aberdeen will pay around £112m in cash for Artio, which had roughly £9.2bn in retail and institutional assets under management as of 31 December 2012. That asset base includes a £2.9bn global equities business and a £6.3bn fixed income division. Artio's global high yield and investment grade teams are expected to join Aberdeen upon completion of the deal. "This acquisition will expand Aberdeen's North American business, deepen its distribution network in the region and add to its existing fixed income capabilities," the group said in a statement. Aberdeen intends to complete the de...
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