Macquarie seals deal for ING’s Korea business
The acquisition of ING Investment Management’s Korea business will allow Macquarie to package real-asset opportunities for local institutions.
Macquarie Investment Management yesterday announced it had agreed to acquire ING Investment Management Korea from troubled ING Group.
The failure of ING Group to sell its Asian investment management franchise en masse last year forced it to divest businesses country by country.
That opened an opportunity for Macquarie, which has been keen to expand its presence in Korea since having sold Macquarie IMM Investment Management to Goldman Sachs in 2007. (Goldman exited the asset mana…
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