Nippon Life Insurance has done more than $12 billion of deals this month alone. Japan’s biggest insurer isn’t finished yet.
Having committed to pouring billions into a pair of global insurers, the Osaka-based company is now turning to asset managers, as it seeks to diversify business at home and abroad. One of those is TCW Group.
Nippon Life is seeking to obtain a majority stake in the Los Angeles-based firm as the foundation of its global asset management expansion, President Hiroshi Shimizu said. It already has about a 27% stake in TCW, which is also 34.2% owned by private equity powerhouse Carlyle Group and the rest by management and employees.
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