Standard Life to extend alternative investments offering

Standard Life Investments, the global fund manager, has announced that its clients will soon be able to access a wider range of alternative assets after announcing its intention to acquire a 75.1% stake in Aida Capital. The acquisition of Aida will be subject to FSA approval.

Aida Capital is a London based, FSA registered, fund of hedge funds manager which has a solid eight year track record of superior performance. Clients range from high net worth individuals, wealth managers and institutional investors from within and outside the UK. Aida currently manages the Aida Open-Ended Fund, a Guernsey listed investment vehicle and the Aida Closed-Ended Fund, an investment fund listed on the London Stock Exchange. Aida Capital's existing management team will continue to manage these funds as well as creating and managing fund of hedge fund products for Standard Life Investments and its clients.

Keith Skeoch, CEO of Standard Life Investments, said: "Standard Life Investments already has a strong track record in managing alternative assets, with over £8.5bn of commercial property, £4.6bn of Private Equity and over £2.2bn of Global Absolute Return Strategy funds under management. We have considered an expansion into new alternative asset classes for some time and believe that the acquisition of Aida Capital, with its proven track record in managing hedge funds, would present us with a great opportunity to strengthen our alternative capacity."