Global fund manager Allianz Global Investors (Allianz GI) has entered into a share purchase agreement for RHB Asset Management Indonesia (RHBAMI).
The Indonesian firm, part of the RHB banking group, has more than US$480 million in assets under management.
According to Allianz GI, the acquisition is designed to bolster the firm’s presence in southeast Asia and the fast-growing financial market in Indonesia.
“We see southeast Asia as the next growth engine besides China,” said Tobais Pross, chief executive at Allianz GI.
The transaction is expected to be completed before the end of 2021, subject to regulatory approval.
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