Ashurst has advised Macquarie Investment Management, part of the Macquarie Funds Group, on its agreement to acquire ING Investment Management Korea from ING Group (“ING”). Completion of the acquisition is subject to certain closing conditions including regulatory approval.
Upon completion of the transaction, Macquarie Investment Management and Macquarie Infrastructure and Real Assets will together be the largest foreign asset manager in Korea by assets under management.
The Ashurst team was led by Hong Kong corporate partner Robert Ogilvy Watson, assisted by senior associate Sun Kim. In London, corporate partner Karen Davies, tax partner Nicholas Gardner and tax associate Preena Gandhi also provided advice. Korea law advice was provided by Lee & Ko and Allen & Overy advised ING.
ING Investment Management Korea is a top 10 asset manager in Korea with AUM of KRW 25.2 trillion. It is a full-service asset manager with established fixed income and equities investment capabilities with both an institutional and retail client base.
Macquarie Investment Management is a full service global fund manager with over 25 years experience, and offers a range of investments for both retail and institutional investors across a variety of asset classes including fixed income, cash, currencies, equities, commodities, hedge funds and private equity secondary funds.
