LGT, a wealth management company, has successfully acquired Abrdn’s discretionary fund management business in the UK and Jersey. The deal, valued at £140m, was announced in February and has now been finalized. As a result of this acquisition, LGT Wealth Management, the UK-based wealth arm of LGT, will take on Abrdn Capital’s 4,000 clients and 140 employees.

This strategic move will significantly boost LGT’s assets, adding £6bn to its coffers and bringing the total assets under management to approximately £28bn. In addition to the financial benefits, the acquisition also expands LGT WM’s regional presence, further solidifying its position in the market.

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Information	Details
Geography	Europe
Countries	🇯🇪
Sentiment	very positive
Relevance Score	1
People	None
Companies	Abrdn Capital, LGT
Currencies	None
Securities	None