The firm said buying Arden will further diversify its business and help boost its hedge fund unit’s assets to $11bn (£7bn).
“Institutional investors are looking to hedge fund solutions to offer risk/return profiles not available via mainstream strategies and traditional asset classes,” said Aberdeen chief executive Martin Gilbert.
“The acquisition of Arden emphasises further Aberdeen’s commitment to diversifying its overall business and to growing its alternatives platform,” he added.
The deal follows one in May for FLAG Capital Management, which is involved in private equity and real assets. Taken together, the two deals will bring total assets on Aberdeen’s alternatives platform to more than $30bn.
Arden boss Averell Mortimer said: “Becoming part of Aberdeen will enable us to share ideas and best practice that will assist in continuing to build on our proven track record.”
Shares in Aberdeen fell by 0.58 per cent to close at 357.50p yesterday.