UK’s ASI wins $101.7 mln deal with U.S. teachers’ pension fund

Aberdeen Standard Investments (ASI), the UK-based investment business of Standard Life Aberdeen, has won a 77 million pounds ($101.7 million) deal to invest in European businesses with a U.S. teachers’ pension fund.

Under the deal, ASI will work with Dutch pensions fund Pensioenfonds PGB on the five years million private equity investment programme.

The company expects to work on a three-year programme with the New Mexico Educational Retirement Board and to acquire stakes in small and medium-sized companies.

ASI intends to focus on companies with opportunities to boost value via operational improvements, extending the range of products and services offered and broadening the geographical focus of marketing and operations.