Alpine Woods Capital Investors LLC has agreed to sell certain investment management assets to Aberdeen Asset Managers Ltd.
Terms of the potential deal were not disclosed. The companies are targeting the second quarter of 2018 to close the transaction, subject to certain approvals and other conditions.
As a result, Aberdeen has reached new investment advisory agreements with Alpine Total Dynamic Dividend Fund, Alpine Global Dynamic Dividend Fund and Alpine Global Premier Properties Fund, which have all been approved by the funds' respective boards and still need to be approved by the funds' shareholders.
The board of Alpine Global Premier Properties Fund has also reached a subadvisory agreement with Aberdeen Asset Management Inc. that would make Aberdeen Asset Managers the investment adviser for the fund, if its shareholders approve the agreements.
Each funds' shareholders plan to meet March 14, 2018, for a special meeting to consider the arrangements. A vote will take place at the meeting among shareholders on record as of Dec. 14.