Monday, 29 December 2014
Last updated 3 hours ago
Aug 6 2012 | 12:41pm ET
Baring Asset Management has expanded its presence in Korea with the acquisition of the $6.3 billion asset manager SEI Asset Korea. The value of the transaction was not revealed.
The acquisition, subject to regulatory approval, will bring Barings' assets under management to about $53 billion.
Seoul-based SEIAK, one of the top 20 asset managers by AUM in Korea, was founded in 1988 as Tong Yang Investment Advisory. In 1997 it merged with Asset Korea. It currently has 47 employees of whom 23 are investment managers.
Commenting on the acquisition, David Brennan, Barings chairman and CEO, said: “We are very pleased to make this announcement today. Korea is one of Asia’s largest asset management markets with considerable growth potential. SEIAK has an excellent reputation and strong franchise, with a commitment to delivering long term investment returns and outstanding client service that aligns with Barings’ own philosophy."
Baring Asset Management is part of the MassMutual Financial Group.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.