Eastspring Investments has signed an agreement to acquire a controlling stake in Thanachart Fund Management Co., Ltd., enhancing its asset management capabilities in Thailand.
Target Company Overview
Eastspring Investments, the Asian asset management firm under Prudential plc, has signed a binding Memorandum of Understanding to acquire a controlling stake in Thanachart Fund Management Co., Ltd. (TFUND), one of Thailand's leading asset managers. As of December 31, 2018, TFUND was the ninth largest asset manager in Thailand, managing total assets of approximately THB 221.3 billion (USD 6.8 billion).
This acquisition reflects Eastspring's commitment to expanding its footprint in the Asian markets, particularly in Southeast Asia, where asset management services are experiencing significant growth.
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Industry Overview in Thailand
The asset management industry in Thailand is thriving, buoyed by the increasing wealth of the population and growing demand for financial products. As a rapidly developing economy
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Eastspring Investments
invested in
Thanachart Fund Management Co., Ltd.
in 2019
in a Other deal
Disclosed details
Transaction Size: $6,800M