22nd Sep 2014 12:36
LONDON (Alliance News) - Aberdeen Asset Management PLC is considering the acquisition of a real estate investment company in the US as part of a plan to increase alternative assets under management, Financial News reported on Monday.
According to the report, the asset manager said a deal was not imminent.
?To bring [alternatives] into the US and start fresh ? we can see some growth opportunities there - but it is going to be hard unless we can try to acquire pieces here and there to help bolster that and kick it off a wee bit faster," Andrew Smith, recently appointed co-chief executive of the Americas at Aberdeen alongside Bev Hendry, told Financial News.
An Aberdeen spokesman declined to comment further.
Meanwhile, Reuters has reported that the Indonesian financial services authority Monday gave Aberdeen approval to buy 80% of PT NISP Asset Management.
Citing a person with direct knowledge of the matter, Reuters said the deal is expected to close by the end of this year.
The news comes after Aberdeen in February said its Asian arm reached agreement to buy the majority stake in NISP from PT NISP Sekuritas.
An Aberdeen spokesman declined to comment to Alliance News.
http://www.efinancialnews.com/story/2014-09-22/aberdeen-asset-management-eyes-us-real-estate-manager-us?mod=rss-googlenewsmod=rss-googlenews&ea9c8a2de0ee111045601ab04d673622
http://uk.reuters.com/article/2014/09/22/aberdeen-asset-nisp-idUKL3N0RN1R220140922
By Samuel Agini; [email protected]; @samuelagini
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