Global insurance asset management heavyweight Allianz Global Investors (AllianzGI) has formally signed an acquisition agreement to fully acquire UOB Asset Management (UOBAM), a leading asset management firm in Southeast Asia, for a consideration of 555 million Singapore dollars, equivalent to 376 million euros.

The transaction is subject to regulatory approvals across multiple jurisdictions and is expected to close in 2027. Concurrently, AllianzGI will enter into a long-term exclusive distribution partnership agreement with UOB. Upon completion of the takeover, AllianzGI’s assets under management across the Asia-Pacific region will surpass 170 billion euros.