Electra Partners and its portfolio company Premier Asset Management have completed the acquisition from Aberdeen Asset Management of the management contracts for two OEIC fund umbrellas containing 10 open-ended former Credit Suisse funds. The fund management contracts comprise £910 million of assets taking Premier's total assets under management to approximately £2.5 billion. The transaction was for a consideration of £23 million and was equity funded by Electra Partners. 

Alex Cooper-Evans, Investment Partner of Electra Partners, commented, "Since the beginning of the downturn we have concentrated on protecting and enhancing our portfolio. This bolt on is a prime example of the strategy; it is transformational for Premier, has significant synergistic benefits and the potential for substantial upside for Electra."

Mike O'Shea, Chief Executive at Premier Asset Management commented: "We are very pleased to have brought on these new funds which will strengthen our franchise in the large UK equity income and UK growth sectors and give our clients an even broader range of products to invest in."

Electra Partners refers to Electra Partners LLP acting on behalf of its client Electra Private Equity PLC ("Electra").

Details of the funds being transferred:

Premier Income Funds ICVC
Premier Income Fund
Premier Monthly Income Fund
Premier Alpha Income Fund
Premier Corporate Bond Monthly Income Fund

Premier Growth Funds ICVC
Premier Alpha Growth Fund
Premier UK Mid 250 Fund
Premier Fellowship Fund
Premier Managed Assets Fund
Premier Smaller Companies Fund
Premier UK Thematic Fund

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