TOKYO (Reuters) -Japan’s MS&AD Insurance said on Monday that it will acquire an 18% stake in U.S. asset manager Barings for $1.44 billion from parent company MassMutual.
As part of the strategic partnership, MS&AD will send a member from its leadership team to Barings’ board. The transaction is expected to close after customary closing conditions and approvals have been finalised, the company said.
(Reporting by Satoshi Sugiyama and Mariko Katsumura; Editing by Chang-Ran Kim and Christian Schmollinger)
