Matthews and Headley repurchased the controlling stake from three existing investors: RBC USA HoldCo Corporation, Mizuho Bank and affiliates of Lovell Minnick Partners.
Matthews International Capital Management will return to being an independent boutique after two of its top executives have acquired a controlling ownership interest in the firm.
Paul Matthews, who founded the investment manager in 1991, and Mark Headley, who joined shortly after its founding and returned as executive chair last year, will purchase the controlling stake, subject to customary closing conditions, including regulatory and shareholder approvals.
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Additionally, several of Matthews' long-time partners also agreed to increase their equity ownership in the business.
Matthews ICM is the adviser to the Matthews Asia funds.
Matthews and Headley repurchased the controlling stake from three existing investors: RBC USA HoldCo Corporation, Mizuho Bank and affiliates of Lovell Minnick Partners.
Headley said it was a "privilege to become a controlling shareholder of Matthews" alongside its founder.
"This decision reflects the deep conviction we share in the future of the firm we have built together and our continued commitment to serving clients with independence and focus," he added.
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This follows the return of Tiffany Hsiao last year to the boutique to manage its China Small Companies fund, China Discovery active ETF, Asia Innovators fund and Asia Innovators active ETF.
Matthews said he was "delighted" the investment manager would "once again become a truly independent company under [Headley's] leadership".
He continued: "In an increasingly volatile world, I believe the case for international diversification is as compelling today as it was 35 years ago. I am proud of our history and confident in the continued evolution of our business."
