Allianz Global Investors (AllianzGI) has agreed to acquire UOB Asset Management (UOBAM) from Singapore-headquartered UOB Group. The deal will increase AllianzGI's assets under management in the Asia-Pacific region to over $196.4b (€170b). Under the agreement, AllianzGI will integrate UOBAM’s South-East Asian investment capabilities—such as regional and single-country equity strategies and Sharia-compliant funds—with its own global active investment offerings. This partnership grants AllianzGI access to UOB’s retail client network across South-East Asia, where UOB currently serves more than 8 million customers. Tobias Pross, CEO of AllianzGI, stated that adding UOBAM’s regional expertise to the firm's global platform will accelerate growth and broaden its investment and retirement offerings across the region.