Aberdeen Asset Management announced Wednesday it will purchase an 80% stake in NISP Asset Management from the Jakarta, Indonesia-based money manager's parent, NISP Sekuritas, an Aberdeen spokeswoman confirmed.
Terms of the deal, which will give Aberdeen its first base in Indonesia, aren’t being disclosed, the spokeswoman said.
Aberdeen’s Singapore-based Asia-Pacific headquarters, Aberdeen Asset Management Asia, will acquire the stake subject to approval from regulators and NISP shareholders, according to an Aberdeen news release.
NISP Asset Management manages roughly US$300 million in assets on behalf of institutional, corporate and retail clients in Indonesia, according to the news release.
Following the acquisition, the company will be rebranded as “Aberdeen,” the spokeswoman said. Aberdeen currently has roughly US$2.8 billion invested in Indonesian equities on behalf of clients globally. The company’s assets under management at the end of January stood at US$320.6 billion.
In addition to its Singapore headquarters, Aberdeen has offices in Bangkok, Hong Kong, Kuala Lumpur, Sydney, Taipei and Tokyo, as well as “representation in Shanghai and Seoul,” according to the news release.