South Korea’s Mirae Asset Global Investments has been making notable strides in its global investments, which the firm attributed to more direct engagement in deals with overseas investment banks and pursuing a balanced portfolio.
The Seoul-based asset management company has been clinching deals with foreign IBs through its global network and alternative investment portfolio. Its acquisition of US golf equipment brand Titleist in 2011, luxury hotel chain Four Seasons in Sydney and Fairmont in Hawaii and San Francisco, for instance are results of such deals, setting it apart from industry rivals.
The firm’s global achievements last year include the acquisition of Global X, a US outfit specializing in exchange-traded funds, establishment of a joint venture in Vietnam and obtaining a license to run a private equity fund in China.
According to recent data by the Financial Supervisory Service, only 27 of 240 local AMCs had a foothold in overseas markets as of December -- with Mirae Asset accounting for 24 percent of the total overseas operations.
It currently has 829 employees in 11 different countries, including Korea.
“By providing diverse asset distribution solutions for investors through stable yields and a balanced portfolio, Mirae Asset has been active in the global markets,” it said.