Aberdeen Asset Management Buys Celexa

LONDON-In a move which underlines the trend towards consolidation in the London asset management business, Aberdeen Asset Management has bought the Danish property investment manager Celexa.

By Graham Parker | April 24, 2001 at 01:01 AM

Celexa has £1.9 billion of assets under management through three companies: Celexa Fastighetskapital in Scandinavia, Celexa Real Estate Investment Management BV in continental Europe, and Celexa Real Estate Investment Management Ltd, in the UK.

The vendor, Alecta, will remain Celexa's biggest single client. In addition to in-house business Celexa has tried to win third-party business with the launch of the £155m Celogix Fund, which invests in distribution centres across Europe.

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