Allianz Global Investors (AllianzGI) has agreed to acquire UOB Asset Management (UOBAM) from Singapore-based United Overseas Bank (UOB) in a deal valued at S$555 million (about $433 million), according to an announcement.
The transaction also includes a long-term strategic distribution agreement with UOB, giving AllianzGI continued access to the bank’s retail client network across ASEAN while allowing UOB to sharpen its focus on wealth advisory and distribution.
AllianzGI said the acquisition will provide it with an established licensed asset management platform in high-growth markets including Thailand, Malaysia, and Vietnam while expanding its operations in Singapore, Taiwan, and Indonesia.
The sale of UOBAM, which reported S$42 billion in assets under management at 2025-end, also allows UOB to focus on strengthening its wealth management business as it seeks to double its wealth income by 2030, per the announcement.
UOBAM, headquartered in Singapore, has operations in eight Asian markets. AllianzGI currently manages 653 billion euros globally and said the acquisition would immediately double its assets under management in Singapore, where it has operated since 1999.
“Adding [UOBAM]’s complementary Southeast Asian investment expertise to our global platform will boost our combined offering and significantly accelerate our growth in this dynamic region,” said Tobias Pross, CEO of AllianzGI.
The transaction, which remains subject to regulatory approvals, is expected to close in 2027.
The deal comes less than two months after AllianzGI gathered $744 million in commitments for the first close of its Allianz Asia Pacific Secured Lending Fund III (AAPSLF III).
The third vintage of AllianzGI’s Asia Pacific middle market lending strategy will target high-growth companies across Southeast Asia, South Asia, Oceania, and selected Asia-Pacific markets (excluding China).
The fund seeks to provide tailored financing solutions across the capital structure to middle-market companies with consistent earnings and cash flows, strong market positioning, and robust governance.
AllianzGI has built a dedicated Asia Private Credit platform since 2018. The team combines deep local market expertise with the resources of AllianzGI’s global Private Markets platform.
