Friday, January 19, 2018

Nippon Life in talks to acquire stake in TCW Group

Japanese giant Nippon Life has begun discussions on its plan to acquire a 20-30% stake in US asset manager TCW Group.

This follows Nippon Life being given preferential negotiating rights for the stake.

The deal could be finalised by the end of this year, according to a report from the Nikkei Asian Review.

Aside from the stake acquisition, the talks will also include the possibility of Nippon Life considering commissioning part of its assets to TCW after the investment.

Nippon is also likely to send a team of directors to TCW following the stake acquisition.

TCW had total assets under management of US$196.9 billion as of the end of June while Nippon Life had total assets of ¥65 trillion (US$576 billion).

The report said Nippon will acquire the stake from Carlyle Group, which owns about 60% of TCW.

Headquartered in Los Angeles, TCW provides products in fixed income, equities, emerging markets, and alternative investments.

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