Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Aberdeen bags Artio Global & SVG

Aberdeen bags Artio Global & SVG

Aberdeen has bought US fixed income manager Artio Global Investors and taken a controlling 50.1% interest in SVG Advisers.

Both the $175 million (£112 million) purchase of Artio and £17.5 million stake in SVG will be funded out of Aberdeen's cash reserves.AT 8.40 shares in Aberdeen were up 1.18% at 420.9p in an otherwise flat market.

Both purchases will broaden Aberdeen's capabilities, enhancing its fixed income services private equity services. The Artio transaction will also deepen its exposure to North America, approximately doubling its US wholesale representation.

Artio manages around $14.3 billion on behalf of both institutional and retail investors, while SVG oversees around £4 billion.

Aberdeen chief executive Martin Gilbert said: 'The integration of Artio’s operations will strengthen further our US fixed income expertise, in particular the addition of US total return and global high yield products, and will help to broaden and deepen our distribution network in the US.'

Aberdeen will hold the right to purchase the outstanding shares of SVG from early 2016. The business will be integrated within Aberdeen's privatye equity fund-of-funds team, which currently runs £700 million.

'This is an exciting development for both SVGA and Aberdeen,' said SVG chief executive Lynn Fordham.

'Combined, SVGA’s long-established private equity expertise and Aberdeen’s global distribution network and fund management capability will create a solid platform from which the Aberdeen SVG franchise can grow. I look forward to working with the Aberdeen team in what I am confident will mark the start of an exciting union with significant potential.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: from managing Brunei’s billions to Dorking’s pension pots

Profile: from managing Brunei’s billions to Dorking’s pension pots

Mole Valley Asset Management's boss on why he chucked in multi-billion mandates for Surrey wealth management

Wealth Manager on Twitter