Deal or no deal?

CufflinkThis week two potential deals between high profile European and Asian asset managers emerged.

Chinese private equity groups Hony Capital and GCS Capital are expected to buy Belgium’s Dexia Asset Management, while the UK’s Baring Asset Management (BAM) announced plans to buy SEI Asset Korea.

Dexia Asset Management is the asset management arm of French-Belgian bank Dexia, which received a bailout from Belgium, France and Luxembourg last year.

At the end of June Dexia Asset Management said it had entered final negotiations with three international candidates.


“This new phase will now advance in all discretion,” a statement said.


When contacted earlier today, a spokesperson for Dexia Asset Management declined to comment on the ongoing deal. The group was unavailable for comment.


Z-Ben Advisors, a Shanghai-based consultancy, said a consortium of Chinese buyout firms would buy the asset management business for $614 million (€599.9 million).


Meanwhile, BAM announced agreement in principle to the acquisition of SEI Asset Korea. The acquisition is subject to regulatory approval


The deal, which is expected to be completed by the end of this year, will add approximately $6.3 billion to BAM’s assets under management.

David Brennan, chairman and chief executive officer of BAM saidKorea is one of Asia’s largest asset management markets with considerable growth potential.

©2012 funds europe