TOKYO (Reuters) -Japan’s MS&AD Insurance will acquire an 18% stake in U.S. asset manager Barings for $1.44 billion from parent company MassMutual, the Nikkei business daily reported on Monday.
With the investment, the Japanese insurer aims to strengthen its management of unlisted assets expected to yield high returns, the paper said.
Baring reports investment returns of 9.9%, the Nikkei said.
(Reporting by Satoshi Sugiyama Editing by Chang-Ran Kim)
