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NEW YORK : Wall Street titan Goldman Sachs said Monday it had agreed to buy Macquarie-IMM Investment Management, a South Korean asset management firm, as it seeks to expand its regional business.
Goldman did not disclose the deal's financial terms, but said in a statement that it hopes to close the takeover later this year.
"This acquisition is a significant milestone for GSAM in Korea, a growing financial hub with significant market potential," said Stephen Fitzgerald, head of Goldman Sachs Asset Management International (GSAM).
Macquarie-IMM is 65 percent owned by Australia's Macquarie Investment Management and 35 percent by South Korea's IMM Co. It describes itself as a "boutique investment manager" with corporate, institutional and mutual fund clients.
- AFP /ls
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