Nippon Life to Acquire 26% Stake in Reliance Capital

January 20, 2012

On January 19, 2012, India-based Reliance Capital Asset Management announced that Japan-based Nippon Life Insurance Company had signed a Memorandum of Understanding to acquire a 26% stake in Reliance Capital in exchange for an investment of RD 1,450 crore ($290 million).

On January 19, 2012, India-based Reliance Capital Asset Management announced that Nippon Life Insurance Company had signed a Memorandum of Understanding to invest RD 1,450 crore ($290 million) in Reliance Capital in exchange for a 26% stake.  Nippon has approximately $600 billion in assets under management.  Reliance Capital has approximately Rs. 93,148 crore ($19 billion) in assets under management, across mutual funds, managed accounts, and hedge funds.  Osaka, Japan-based Nippon, also called Nissay, is a provider of private life insurance and is already a strategic partner in Reliance Life Insurance.  Nippon acquired a 26% stake in Reliance Life for Rs. 3,062 crore ($680 million).  The transaction is subject to regulatory approvals.

To read the press release, please click here.


Categories

Hedge Fund Strategic Investments, Investment Manager Strategic Investments, Mutual Fund Strategic Investments, Transactions