AMG Acquires Undisclosed Stake In Baring Private Equity Asia


Global asset management firm Affiliated Managers Group, Inc. has acquired an undisclosed stake in Baring Private Equity Asia, according to a joint announcement.

Baring’s senior partners will continue to hold a majority stake of the Asia-focused private equity firm and direct its day-to-day operations.

"Baring Asia is AMG’s first affiliate based in Asia…We see meaningful demand from sophisticated clients globally for exposure to secular growth opportunities in Asia, including through the private equity format," says Sean M. Healey, chairman and chief executive officer of AMG.

Baring says it will use the proceeds to fund the growth of its business and further align interests between its limited partners and staff at the firm.

Founded by Jean Eric Salata in 1997 and based in Hong Kong, Baring is the largest Asian private equity firm with total assets under management of over US$8 billion.

It has over 30 portfolio companies across Asia which had US$30 billion in revenues in 2014, says the announcement.

Some of Baring’s recent deals include acquiring a 40% stake in U.K.-based manufacturer of cereals and cereal bars Weetabix Food Company and buying a majority stake in Hong Kong-based Vistra Group, a provider of company formations, trust, corporate and fund administration services.

In 2015, Baring closed its sixth fund at a hard cap of US$3.988 billion, and raised US$365 million for its inaugural real estate fund.

 
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