The global asset manager has announced its first affiliate based in Asia.

New York-listed Affiliated Managers Group, a global asset management company, has acquired an equity interest in Hong Kong-based Baring Private Equity Asia.

Baring Asia’s senior partners will continue to hold a majority of the equity of the business and, consistent with AMG’s partnership approach, direct its day-to-day operations.

Through its pan-Asian investment platform spanning offices in Hong Kong, Shanghai, Beijing, Mumbai, Singapore, Jakarta, and Tokyo, Baring Asia’s 66 investment professionals specialize in growth-oriented investments, sponsoring management buyouts and providing capital to companies for expansion, recapitalization or acquisitions, AMG said.

The firm has over 30 portfolio companies across Asia which had in aggregate 100,000 employees and $30 billion in revenues in 2014. Its client base includes over 200 institutional investors from around 20 countries including pension plans, insurance companies, endowments, foundations, and sovereign wealth funds.

As part of the transaction, Baring Asia’s leadership has agreed to long-term commitments with AMG. The terms of the transaction were not disclosed.

Also this week, AMG completed its investments in Systematica Investments, Ivory Investment Management and Abax Investments.