28/05/2015
Aberdeen AM takes over a US alternative asset management firm
Aberdeen Asset Management has entered into an agreement to acquire FLAG Capital Management, LLC (FLAG), a manager of private equity and real asset solutions with offices in Stamford CT, Boston, MA, and Hong Kong.This acquisition is in line with the Scottish asset manager’s strategy to strengthen and grow its global alternatives platform and solutions provision via multi-manager coverage of hedge funds, property and private market allocations, infrastructure investments and pan-alternative capabilities. FLAG’s well-established private equity teams in the U.S. and Asia will help broaden Aberdeen’s private markets solutions activity within the alternatives arena.As of December 31, 2014 , FLAG managed assets of approximately USD6.3 billion of invested and committed capital on behalf of its broad client base. FLAG is a diversified private markets solutions business focused on venture capital, small- to mid-cap private equity, and real assets in the U.S., as well as private equity in the Asia-Pacific region. The business will be fully integrated into Aberdeen’s current private markets capability. This will position Aberdeen as a leading global private equity investor with over 50 investment professionals and roughly USD15 billion of assets under management, according to a press statement. Aberdeen’s alternatives platform, overseen by Andrew McCaffery, global head of alternatives, will have total assets under management of USD21.3 billion following completion of the transaction.
