Aberdeen Asset Management PLC wrapped up its acquisition of Artio Global Investors, a U.S. publicly-listed asset manager, effective May 21. The firm paid $179.7 million, a premium of $46.3 million over Artio's unaudited net asset value as of March 31.

Artio’s net assets as of March 31 included $112.4 million of cash and seed investments. As of May 17, 2013, Artio managed a $9.2 billion fixed income business, including Total Return Bond and Global High Yield strategies, and a $1.4 billion international and global equities business which will be transitioned to Aberdeen's global equity investment process.

The firm’s Global High Yield and High Grade teams, including portfolio managers Greg Hopper and Don Quigley, will continue to manage the fixed income funds at Aberdeen. The international and global equity portfolios will be managed by Aberdeen's Global Equity team.

"This acquisition is in line with Aberdeen's strategy of undertaking infill acquisitions that will assist with growing our business organically,” stated Martin Gilbert, chief executive officer of Aberdeen Asset Management.

“We believe this will benefit our North American business, a region we view as a key growth market for Aberdeen.

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