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Allianz Global Investors to buy UOB Asset Management for $433M

The deal includes a long-term distribution agreement that is expected to give AllianzGI access to UOB’s retail client network, helping expand its Asia Pacific reach.

Reported · Written up by our desk · Industry & Deals

Allianz Global Investors has agreed to acquire UOB Asset Management, the asset management arm of Singapore-headquartered UOB Group, for $433 million, according to Coverager.

The transaction is designed to strengthen AllianzGI’s Asia Pacific business and would bring the firm’s regional assets under management for clients to more than €170 billion, the outlet reported.

The acquisition also comes with a long-term distribution agreement that provides long-term access to UOB’s retail client network.

Coverager added that UOB is the third largest bank in South-East Asia by total assets, with over 8 million clients and around 400 regional branches, and said the arrangement is meant to deepen AllianzGI’s market connectivity and growth in the region.

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