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Nippon Life to buy 25 percent of U.S. asset manager TCW from Carlyle

Reuters  |  TOKYO 

TOKYO (Reuters) - Nippon Life Insurance Co has reached a deal to acquire 24.75 percent of U.S. investment firm TCW Group Inc from U.S. asset manager Carlyle Group LP, the companies said on Friday.While terms were not disclosed, a person with direct knowledge of the matter said the company, Japan's biggest private-sector life insurer, would pay about 55 billion yen ($488.37 million). Nippon Life and Carlyle declined to comment on the price.Nippon Life, which will have two seats on TCW's board, said the transaction should close this month, pending regulatory approval.The insurer is the latest ...

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First Published: Fri, December 01 2017. 23:24 IST