Samsung Asset Management takes 20% stake in Amplify

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Samsung Asset Management has acquired a minority stake in Amplify Holding, an Illinois-based exchange-traded fund sponsor, an Amplify spokeswoman said.

The Korean asset manager acquired the 20% stake in Amplify through Samsung AM’s US-based special purpose vehicle, Samsung Asset Management US Holdings, the spokeswoman said. She did not have information about the more specific financial terms of the deal, such as its value.

With this agreement, Amplify and Samsung AM form a strategic business alliance in the ETF space, the spokeswoman said. Samsung AM will have the exclusivity to offer Amplify products in Asia. In addition, the companies will jointly develop new products and marketing strategies.

Christian Magoon, CEO and founder of Amplify, said in a press release Thursday that the investment gives the company exposure to the growing Asian ETF market.

Additionally, “Amplify will receive significant funding and organizational support from Samsung to accelerate our business growth,” Magoon said in the statement.

Amplify had more than $4.4 billion in assets in its ETF suite as of December 31, according to the statement, which said Samsung AM’s assets under management totaled $258 billion.

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