LGT completes takeover of abrdn DFM business

Headline: LGT completes takeover of abrdn DFM business

Date: 04/09/2023

Type: Acquisition

Acquiror: LGT Wealth Management

Target: abrdn’s Fund Business

Target Services: Fund Management Business

Valuation: £140 m

Country: UK

Continent: Europe

Target Industry: Finance

Rationale: LGT has successfully acquired abrdn’s DFM business in the UK and Jersey, expanding its assets under management and UK footprint.

Summary: LGT Wealth Management has finalized the acquisition of abrdn’s Discretionary Fund Management business, growing its assets under management by £6 billion to more than £28 billion.

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