Aberdeen Standard Investments (ASI) has strengthened its real estate business in Asia-Pacific with the acquisition of Orion Partners, a $900m (鈧�794.6m) investment manager.
The $56.3bn (鈧�49.7bn) manager said the acquisition expands its global real estate capabilities and offerings with the addition of Orion Partners鈥� direct real estate team and established track record in Asia.
The terms of the transaction were undisclosed.
Orion Partners manages direct real estate investments in Asia for international institutional investors seeking access to the region鈥檚 markets.
Hugh Young, the head of Asia Pacific at Aberdeen Standard Investments, said: 鈥淔or investors seeking diversification, Asian real estate offers attractive risk-adjusted returns, with less correlation to broader market volatility.
鈥淗aving established a track record across equities, fixed income, private equity and real estate multi-manager investing in Asia Pacific over the years, this is a good opportunity for us to build out our regional real estate presence.
鈥淎t a time when global investors鈥� allocation to alternatives and real assets are growing, being able to offer a truly one-stop real estate solution is an integral part of our growth strategy.鈥�
Kang Puay Ju, the head of real estate Asia Pacific and global head of real estate multi-manager at Aberdeen Standard Investments, said: 鈥淥ur real estate multi-manager business has invested with Orion Partners in Asia Pacific for more than a decade; it is a team we have known well and admired for its client-focused and transparent approach, much in line with ASI鈥檚 own culture.
鈥淭he addition of the on-the-ground direct real estate teams in Japan, Korea, Hong Kong and Singapore will deepen our local insights and broaden our product suite across the region.鈥�
David Paine, the global co-head of real estate at Aberdeen Standard Investments, said: 鈥淭oday marks the next stage in developing our real estate business by expanding our footprint in Asia Pacific.
鈥淭he acquisition of Orion Partners reinforces our position as a leading real estate manager delivering world-class investment capability. With one of the largest and most sophisticated real estate investment offerings globally, a client-led mind-set and a passion for innovation, this further enhances our ability to meet investors鈥� evolving needs.鈥�
