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Bailey McCann, Opalesque New York:

UK-based Aberdeen Asset Managment will acquire Advance Emerging Capital based in London. AEC specialist investment manager with nearly two decades of experience managing portfolios of primarily closed end, but also open end, fund-of-fund vehicles.

As of 30 June 2015, the company managed £409 million across a range of investment funds.

The two largest vehicles that the team manages are Advance Developing Markets Fund Limited and Advance Frontier Markets Fund Limited, both of which are closed end.

Following the transaction Aberdeen will manage 33 closed end funds with aggregate AuM of over £8.5 billion.

AEC will be based in Aberdeen’s London office and will be part of the alternatives business which is led by Andrew McCaffery.

Aberdeen has been on a bit of a buying spree lately, with the acquisition of Arden first announced in August, and the acquisition of FLAG Capital earlier this month. The firm is aggressively building out its alternative investments business lines. Arden provides a hedge fund of funds team, and FLAG Capital provides a private equity solution. Aberdeen's alternatives business will top $30 billion in AUM with the completion of both transactions.

The acquisitions come alongside a new $500 million liquid alternatives fund launched at the end of August. Aberdeen Alternative Strategies Fund offers a multi-strategy portfolio in a UCITS wrapper and is seeded by Aberdeen and Aberdeen clients.......................

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