Baring Asset Management has acquired Korean asset management firm SEI Asset Korea, subject to regulatory approval.
SEI Asset Korea currently has 23 investment managers and £4bn of assets under management. The firm launched in 1988 as Tong Yang Investment Advisory before merging with Asset Korea in 1997.
Barings chief executive David Brennan says: “The acquisition of SEIAK underscores our commitment to Asia and belief in its strong long-term growth potential. We will bring Barings’ deep pool of Asian resource and distribution expertise, aligned with our highly regarded international investment platform, to the Korean market and build on the success already achieved by SEIAK.”