Aberdeen Asset Management has entered into an agreement to acquire Arden Asset Management, a hedge fund specialist that creates and manages hedge fund portfolios across the liquidity spectrum. The acquisition comes as part of a continued effort by Aberdeen to grow its global alternatives investment platform, which is seeking to encompass multi-manager research and selection across hedge funds, private equity and property, as well as direct investments in infrastructure projects. Aberdeen was last active on the acquisition front in May, signing an agreement to acquire FLAG Capital Management, a manager of PE and real asset solutions. Following the new acquisition, Aberdeen will manage approximately $11 billion in assets. Willkie Farr & Gallagher served as legal advisor to Aberdeen in connection with the transaction, while Davis Polk & Wardwell advised Arden.