Aberdeen acquires Goodman Property Investors and becomes top ...

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Aberdeen acquires Goodman Property Investors and becomes top ...

6 May 2008Aberdeen acquires Goodman Property Investors and becomes topten global property asset managerAberdeen Asset Management PLC (Aberdeen), the UK-listed global assetmanager, today announces that it will acquire Goodman Property Investors(GPI) from the Goodman Group for an initial cash consideration ofapproximately £89 million. The acquisition is expected to be earningsenhancing in the first full year of ownership.The acquisition will enhance the position of Aberdeen Property Investors, the specialistproperty investment division of Aberdeen, as one of the largest property fund managersglobally. GPI is one of the largest property fund managers in the UK with assets undermanagement (AuM) in excess of £7 billion as at 31 March 2008.Aberdeen Property Investors’ AuM will increase by over 42% to approximately €30 billion (£24billion), transforming it into the second largest property investment manager in the UK and atop 10 global player (based on AuM).Crucially with some 93% of GPI's AuM invested, directly or indirectly, in UK property, theacquisition will give Aberdeen Property Investors significant critical mass in the important UKmarket. The UK currently accounts for only a small proportion of Aberdeen Property Investors’AuM. As well as providing a UK platform, GPI manages a complementary range of productsand shares a similar investment philosophy. The combined businesses are expected to benefitfrom economies of scale and from opportunities to cross-sell a broad and comprehensiveproduct range to a wider client base.The transaction is consistent with Aberdeen Property Investors’ strategy to have strong localresources in all its key markets in order to offer clients a wide range of attractive investmentvehicles for international property exposure. The acquisition of GPI extends and strengthensAberdeen Property Investors’ on-the ground presence, across Europe and Asia. It will alsocreate an even stronger position in the fast growing property fund of funds business, whereboth Aberdeen Property Investors and GPI have been leading the development in Europe andAsia.The acquisition follows on from Aberdeen’s successful acquisition of DEGI, a leading provider ofopen-ended property funds in the German market earlier this year. DEGI added some £5billion to assets under management and has strengthened Aberdeen’s position in the keyGerman market. Post acquisition an estimated 21% of Aberdeen’s AuM will be in property with34% in equities and 45% in fixed income; providing Aberdeen with greater balance in itsoperations and mix of assets under management.Rickard Backlund, chief executive officer of Aberdeen Property Investors, comments:“The acquisition of GPI is a logical step in cementing our position as a leading global propertyasset manager. A significant UK platform was the missing piece in Aberdeen PropertyInvestors’ European business. In GPI we are getting a highly regarded management team anda complementary range of products we can grow. The deal also strengthens our presence inAsia; a region which is likely to attract increased interest from investors looking to diversifytheir property portfolios.”Upon completion, subject to FSA approval, GPI will change its name to Aberdeen PropertyInvestors.END


For further information please contact:Rickard Backlund, CEO, Aberdeen Property Investors,+ 46 8 412 80 60, rickard.backlund@aberdeenpropertyinvestors.comCharlotte Walsh, Maitland+44 (0)207 379 5151 or +44 (0)7813 889 660Victoria Trench, Maitland+44 (0)207 379 5151 or 07799 132 634Notes to EditorsAbout Goodman Property InvestorsGPI is the largest independent property fund manager in the UK with 160 staff, of which 130are based in the UK, and offices in London, Glasgow, Amsterdam and Paris as well asrepresentative offices in Hong Kong and Sydney. GPI is a provider of direct and indirectproperty portfolio services, including separate mandates and pooled funds, across all realestate asset classes in the UK and increasingly globally. As at 31 March 2008, GPI had AuM inexcess of £7 billion, of which approximately 85%. were in separate mandates and 15% incollective funds. GPI has a broad and predominantly institutional client and has an excellentrecord of client retention.GPI has a strong and consistent track record across all its key products. It has been recognisedby industry awards such as "UK Property Manager of the Year" by Pension and InvestmentProvider Awards 2007 and "Specialist Asset Manager of the Year" by Funds Europe Awards2006. Its Two Rivers Limited Partnership fund was also awarded the "UK Specialist FundPerformance" by EuroProperty Investment Awards 2007.About Aberdeen Property InvestorsAberdeen Property Investors, the specialist property division of Aberdeen Asset ManagementPLC, is one of Europe’s leading investment managers specialising in property, with more than€20 billion of assets under management through property funds, funds of funds andmanagement mandates in Europe and Asia. Clients are primarily institutional investors such aslife insurers and pension funds, served by our some 700 professionals at offices in elevenEuropean countries and in Singapore. Our mission is to facilitate international investmentexposure to property by offering a comprehensive range of investment products and services,all supported by a structured investment process and local active management. In 2007, wewere named leading investment manager for the Nordic and Baltic region in the EuromoneyLiquid Real Estate Awards.About Aberdeen Asset Management PLCAberdeen Asset Management PLC (Aberdeen) is an international investment managementgroup managing assets principally on behalf of leading national and corporate pension funds,central banks and other financial institutions from its 24 offices located around the world.Aberdeen employs 1,500 staff world-wide in some 19 countries, including investment centresin the three main time zones through London, Philadelphia and Singapore. The Group's areasof activity are principally equities, fixed income and property. Total group assets undermanagement and advice were £107.3 billion as at 31 March 2008. Listed on the London StockExchange since 1991, Aberdeen is a FTSE-250 company with a market capitalisation of £902million.Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen PropertyInvestors, authorised and regulated by the Financial Services Authority.

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