London-based Baring Asset Management, a subsidiary of MassMutual Financial Group, agrees to acquire SEI Asset Korea Co., Ltd.
On August 1, Willkie client Baring Asset Management, an international investment management firm, announced it has agreed to acquire SEI Asset Korea Co., Ltd. London-based Barings, a subsidiary of MassMutual Financial Group, currently has about $47 billion under management. The acquisition will significantly expand Barings' presence in Korea, which represents the third-largest market for asset management services in Asia. With offices, clients and business lines throughout the world's major market centers, Barings provides investment management services in developed and emerging equity and bond markets on behalf of institutional, intermediaries and private individuals worldwide. Based in Seoul, South Korea, SEIAK has approximately $6.3 billion in assets under management. Founded in 1851, MassMutual Financial Group is one of the world’s leading diversified financial services organizations. The deal was handled by partners David Boston and Laura Delanoy and associate Danielle Scalzo.