NEW YORK- Mirae Asset Global Investments Co., Ltd. (Mirae Asset), one of Asia’s leading independent financial companies based in Seoul, South Korea, today announced that it has completed the previously announced acquisition of Global X Management Company LLC (Global X), the New York-based provider of exchange-traded funds (ETFs) with $10.1 billioni in assets under management (AUM).

In partnering with Mirae Asset, Global X gains access to the resources and reach of a large, global financial institution, which will allow for Global X to continue to develop its thematic, income, and international ETF solutions, while expanding distribution capabilities. The day-to-day operations of the Global X business will not change, and the organization will maintain the Global X brand.

“The closing of this deal marks the beginning of the next chapter in Global X’s story,” said Luis Berruga, CEO of Global X. “The core of our firm has always been focused on designing and offering investment solutions that match the needs of our clients. Mirae Asset is the ideal partner for Global X, as we share that entrepreneurial spirit and client-centric focus. We are excited to combine our capabilities to bring our investor-driven solutions to a global stage.”

The addition of Global X provides an anchor presence in the United States for Mirae Asset’s global ETF business, which also includes businesses in Canada, Latin America, Hong Kong (Horizons ETFs), Australia (BetaShares) and South Korea (Tiger ETFs). With $126.3 billion in assets under management and $21.3 billion in global ETFs, Mirae Asset is a globally recognized leader in the ETF industry.ii

“With the acquisition of Global X, our ETF business will become a truly global ETF platform that offers some of the most unique and innovative ETF products and investment solutions. Combining the expertise of our teams across the world, we will continue to build a differentiated ETF business in both the local and global marketplaces,” said Taeyong Lee, Mirae Asset’s Global Head of ETFs.

“This transaction is a significant milestone for Mirae Asset in the US and globally. I am confident that together with Global X, Mirae Asset will be able to better serve our global investors through our tradition of offering innovative investment solutions” said Hyeon-Joo Park, Global Investment Strategy Officer and Chairman of Mirae Asset Financial Group.

RBC Capital Markets served as exclusive financial advisor to Global X in this transaction. Baker & McKenzie and Shearman & Sterling are acting as legal counsel to Global X. Morgan Lewis and Shin & Kim are acting as legal counsel to Mirae Asset.