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Meiji Yasuda expands Man Group private-credit backing to $1.3 billion
The expanded partnership includes a possible 5% stake in Man Group and joint development of products for Japan.
Japanese insurer Meiji Yasuda is raising its capital commitment to Man Group’s private-credit funds to ¥200 billion ($1.3 billion), with the money to be allocated over the next three years, the companies said on October 26.
Under the expanded partnership, Meiji Yasuda could take an equity holding of 5% in the British group through purchases on the open market. The two firms will also work together on products aimed at Japan.
The relationship dates to February 2025. While the companies left the earlier commitment undisclosed, Panmure Liberum analysts said it amounted to ¥150 billion. At 9:52 a.m. GMT on October 26, Man Group shares were up 4.6%.
Meiji Yasuda has been widening its investments beyond domestic equities and government bonds in an effort to improve returns for policyholders. Its other transactions include the $2.3 billion acquisition of Legal & General’s U.S. protection business and the purchase of a 5% stake in the British insurer.
The expansion coincides with increased regulatory concern about private credit. Regulators warn that a lack of transparency, inconsistent data and opaque valuations could present risks to broader financial markets.