South Korea’s Mirae Asset Acquires Global X

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Mirae Asset Global Investments Co., Ltd., one of the largest independent asset managers in South Korea, is acquiring exchange traded funds issuer Global X. The companies made the announcement Tuesday after the close of U.S. markets.

Terms of the deal were not disclosed. New York-based Global X, known for its thematic and international ETFs, among other offerings, had $9.33 billion in assets under management as of Feb. 12. That makes Global X the 17th-largest U.S. ETF issuer as measured by assets.

“Mirae Asset is adding an anchor presence in the United States (Global X) to its existing ETF businesses in Canada (Horizons), Australia (BetaShares) and Asia (Tiger ETF),” according to a statement. “With $30 billion in assets under management as of Jan. 31, 2018, the combination of these ETF businesses represents …

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