Matthews International Capital Management, LLC the independent, privately owned firm and the largest dedicated Asia investment specialist in the United States with US$26.2 billion in assets under management, today announced the addition of Mizuho Financial Group as a new equity holder in the firm.
Mizuho will acquire approximately 16% ownership interest in Matthews Asia from a portion of the ownership currently held by a broad group of existing equity holders and Mizuho will assume a seat on the management board for Matthews Asia.
The transaction is expected to close by the end of the first quarter of 2016 and is subject to customary closing conditions, including receipt of any required regulatory approvals.
William Hackett, Chief Executive Officer, commented: “We are pleased to welcome Mizuho as a new owner in Matthews Asia. Regarded as a preeminent global financial institution, Mizuho’s investment in our firm is an endorsement of the success Matthews Asia has achieved for our clients over the past 24 years. Mizuho’s investment will help ensure continued long-term stability of ownership while retaining our independence.
Given Mizuho’s strong reputation in the financial services sector, their considerable experience and dominant presence in Japan, we are excited about the opportunity to partner with them in showcasing our distinctive Asia-focused investment strategies. We look forward to developing a strong and productive relationship with Mizuho and continuing to deliver long-term value for our clients, stakeholders and employees.”
Katsunobu Motohashi, Head of Asset Management Unit, commented: “We are pleased to announce that Mizuho Financial Group is entering into a capital and business alliance with Matthews Asia, a leading manager of Asian investment strategies. Matthews Asia’s long-term investment philosophy complements our client needs as they increasingly shift their wealth from savings to investments. We look forward to collaborating with Matthews on developing Asia-focused investment products and bringing their unique investment perspective to our clients.”
