Standard Life Investments, the Edinburgh based asset manager, has taken a 75% stake in fund of hedge funds manager, Aida Capital.
In a press release dated March 22, 2010, Standard Life Investments (“Standard Life”) announced that it has taken a 75% stake in Aida Capital (“Aida”), a London-based fund of hedge funds manager. With the acquisition of Aida, Standard Life expands its alternative investments offerings. The interest in Aida was acquired from Oppenheim and Colin Clark, a non-executive director of Standard Life and a director and shareholder of Aida. The deal terms were not disclosed. Aida, with more than $50 million in assets under management, intends to create a series of specialist funds for its new owner.
As of December 31, 2009, Standard Life had over £138 billion in assets under management, including over £8.5 billion of commercial property, £4.6 billion of private equity and over £2.2 billion of global absolute return strategy funds.
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