 |
Photo: Korea Investment & Securities |
[Alpha Biz= Paul Lee] Korea Investment & Securities has invested $200 million to acquire a 4.29% stake in U.S.-based asset management firm CW Parent LLC.
On the 19th, Korea Financial Group announced in a regulatory filing that its subsidiary, Korea Investment & Securities, made the equity investment to secure capital gains and expand its global partnerships. The investment amounts to KRW 272.3 billion, equivalent to 2.94% of the firm's total equity capital.
Korea Investment & Securities is expected to further strengthen its overseas business and deepen its connection with the U.S. financial market through this strategic investment.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
