Baltimore-based Legg Mason has agreed to acquire Scottish asset manager Martin Currie, buying the UK firm at an “inflection point” in its history and plugging a gap in the US fund manager’s international lineup.

The deal adds international muscle to Legg Mason as chief executive Joe Sullivan continues his strategy of creating a smaller number of larger affiliates. Legg Mason currently has $704 billion in assets and has been seeking acquisitions to round out its coverage and product lineup over the last year and a half.