Korean fund houses in M&A frenzy

Landmark and Mirae are acquiring rivals in order to build alternative investment and overseas expertise.

Two mid-sized Korean fund management houses are acquiring rivals in a bid to gain the size needed to finance the creation of alternative and overseas investment capability.

The $5.1 billion Mirae Asset is expected to acquire SK Investment Trust Management Company SK ITMC as early as next week, while the $3 billion, Morgan Stanley-owned Landmark Trust is in talks to buy at least two domestic ITMCs.

The deals take place against a background of falling...

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