Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, acquired an equity interest in Hong Kong-based Baring Private Equity Asia.
The terms of the transaction were not disclosed.
Baring Asia’s senior partners will continue to hold a majority of the equity of the business and, consistent with AMG’s partnership approach, direct its day-to-day operations. The firm will use the proceeds to fund the growth of its business and further align interests between its LPs and staff at the firm.
Founded by Jean Eric Salata in 1997, Baring Asia is the largest dedicated Asian private equity firm, and advises funds with total assets under management of over US$8 billion.
Through its pan-Asian investment platform spanning offices in Hong Kong, Shanghai, Beijing, Mumbai, Singapore, Jakarta, and Tokyo, Baring Asia’s 66 investment professionals specialize in growth-oriented investments, sponsoring management buyouts and providing capital to companies for expansion, recapitalization or acquisitions.
It has over 30 portfolio companies across Asia which had in aggregate 100,000 employees and US$30 billion in revenues in 2014.
The firm’s client base comprises over 200 leading institutional investors from over 20 countries, including pension plans, insurance companies, endowments, foundations, and sovereign wealth funds.
FinSMEs
06/01/2015