Barings moves to buy Korean asset manager

UK-based Baring Asset Management has signed an in-principle agreement to acquire SEI Asset Korea, with the deal expected to go through by the end of this year, pending regulatory approval. The Korean house has $6.3 billion in AUM and 47 staff, of whom 23 are investment professionals. Its management structure will be kept intact and the firm will be merged into Barings Korea Ltd, which the UK manager established over two years ago and has just two staff. Once completed, Barings’ …