Thursday, 24 July 2014
Last updated 14 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…