On March 14, 2024, Dai-ichi Life Holdings announced a minority investment in Canyon Partners.
Dai-ichi Life Holdings (“Dai-ichi”) announced that it had made a minority investment in Canyon Partners (“Canyon”). Dai-ichi will acquire a 19.9 percent minority stake in Canyon. 100 percent of the net proceeds from the transaction will be retained on Canyon’s balance sheet and reinvested in the business. Further terms of the transaction were not disclosed.
Dai-ichi, based in Tokyo, is a is a life insurance and asset management company offering investment management and investment advisory services. As of July 2023, Dai-ichi had $239.5 billion in assets under management. BofA Securities served as exclusive financial advisor to Dai-ichi Life.
Canyon, based in Dallas, is an investment management firm providing hedge fund and investment opportunities across asset classes such as bank debt, high yield and distressed securities, securitized assets, direct investments, convertible arbitrage, risk arbitrage, and equities and special situation securities. As of July 2023, Canyon had $24.4 billion in assets under management. Ardea Partners served as exclusive financial advisor to Canyon.
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