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Saracen is an FCA-regulated entity with associated authorisations Martin Gilbert AssetCo PLC (LON:ASTO) the AIM-listed vehicle of former Aberdeen Asset Management chief Martin Gilbert has acquired Edinburgh-based Saracen for £2.75mln. Saracen has five staff currently that run three funds with assets under management of around £120mln. AssetCo said there is scope to develop Saracen's existing funds and market and distribute them more widely, but added that importantly it is an FCA-regulated entity with associated authorisations which it would also take on if the regulator gives c...

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AssetCo strikes deal to acquire boutique firm Saracen AssetCo strikes deal to acquire boutique firm Saracen Former Aberdeen Asset Management CEO Martin Gilbert is now chairman at AssetCo. AssetCo agreed to acquire Saracen Fund Managers in a £2.75 million ($3.9 million) deal that will bring the money manager acquisition firm a Financial Conduct Authority license. The two firms announced Friday that AssetCo, which focuses primarily on acquiring, managing and operating money and wealth management activities and is led by former Aberdeen Asset Management founder and CEO Martin Gilbert, that the ...

Fund buyers expect Saracen Fund Managers revival after Assetco purchase Martin Gilbert-backed business will buy the Edinburgh-based asset manager in £2.75m deal Assetco’s acquisition of Saracen Fund Managers should help the ailing fund group realise its growth potential, given asset management dealmaker Martin Gilbert’s involvement, according to fund buyers. On Friday, Assetco, the former fire-engine leasing business chaired by Gilbert (pictured), announced it was buying Saracen in a deal worth £2.75m. The purchase, conditional to FCA approval, is expected to occur by the end of Septemb...

Gilbert’s AssetCo bids for boutique Edinburgh fund manager By Michael Klimes 14 th May 2021 8:33 am Martin Gilbert’s new investment vehicle AssetCo plc wants to acquire Saracen Fund Managers Limited (Saracen). The deal for £2.75m is subject to regulatory approval and gives some indication of AssetCo’s intentions. The former fire emergency rescue company is now an investment vehicle focused on acquisitions with arch-dealmaker Gilbert at the helm. In January the former Standard Life Aberdeen (SLA) chief executive bought a 9.9% stake in AssetCo. But it has been...