Global law firm White & Case LLP has advised ETF Securities Limited on the sale of its specialist commodity Exchange Traded Product (ETP) US business to Aberdeen Standard Investments (ASI).
The acquired business has US$2.7 billion of assets under management, and it will further broaden ASI’s suite of investment capabilities. It also provides the platform and expertise to enable ASI to grow its existing Smart Beta capability by launching strategies within the acquired platforms.
London-based White & Case partner Marcus Booth, who co-led the Firm's deal team said: "This is the second deal on which our global, cross-practice team has supported ETF Securities this month. It addresses the changing needs of global investors, and provides them with a greater range of innovative solutions."
ETF Securities established itself as one of the world's leading ETP innovators, providing investment solutions across multiple asset classes to investors worldwide, having created the world’s first gold ETP in 2003. Its Jersey ETC platform, recently sold to WisdomTree Investments Inc, is Europe's largest provider of commodity ETPs.
Aberdeen Standard Investments is a leading global asset manager that looks after €638 billion of assets worldwide, with clients in 80 countries supported by 50 relationship offices. It is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.
The White & Case team which advised on the transaction was co-led by partners Marcus Booth and Peggy Wang (both London), and included partners David Dreier and Arlene Hahn (both New York), counsel Victoria Rosamond (New York), associates Philip Vavalidis, Peter Jones, Jason Krause, Helen Levendi (all London) and Jake Jung (New York), and foreign legal consultant Amy Hutchings (New York).
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