Our Financial Services and Funds team is pleased to be advising Aberdeen Investments in connection with the recently announced arrangements whereby Aberdeen Investments will become the manager of Herald Investment Trust PLC (HIT), and related standstill arrangements with Saba Capital Management in respect of HIT and eight investment companies managed by Aberdeen Investments if they choose to participate in such standstill arrangements.

Aberdeen Investments is the fifth largest manager of listed closed funds in the world with a very long-standing focus on investment companies, which are the origins of Aberdeen's Investment business. The deal is expected to complete in July – subject to regulatory approval.

The team leading on the transaction is being led by Of Counsel Nick Heather and Partner John Reed.

Gowling WLG's Financial Services and Funds team advises on a whole range of global asset management and fund matters, including public and private M&A, specialist regulatory advice, commercial arrangements and regulatory investigations and disputes.