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. 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.
Read the full article: abrdn Completes Acquisition of US Specialist Healthcare Closed-End Funds //