abrdn's US arm has completed its acquisition of the healthcare fund management arm of Telka Capital Management, as part of a push to build out its offering in the sector.
The deal, first announced in June, will see abrdn absorb four NYSE-listed healthcare and biotech thematic closed-end funds, the firm said today (30 October). The four funds total £2.6bn in assets under management, and generated £26m of revenue last year. abrdn to acquire £600m closed-end fund assets from First Trust Advisors Meanwhile, Tekla's investment team will also join abrdn, allowing the firm to draw on their expertise to bolster its presence in health and biotech. "The Tekla team has an impressive 20-year track record investing in healthcare and biotech companies," said Step...
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