TCW Announces Completion of Nippon Life Insurance Company’s Acquisition of a Minority Stake in TCW

28-Dec-2017 Intellasia | BusinessWire | 5:00 AM Print This Post
  • Nippon Life Acquires 24.75% stake in TCW
  • TCW management and employee ownership increases to 44.07%
  • Carlyle maintains a 31.18% position through Carlyle Global Partners
  • New TCW Board of Directors announced

LOS ANGELES & NEW YORK–(BUSINESS WIRE)–The TCW Group, a global asset management company, announced today that
Nippon Life Insurance Company, Japan’s largest private life insurance
company, completed its previously announced acquisition of a 24.75%
minority stake in TCW from The Carlyle Group (NASDAQ: CG).

As a result of the transaction, ownership in TCW by TCW management and
employees increases to 44.07%, and Carlyle maintains a 31.18% interest
in the firm through its long duration private equity fund, Carlyle
Global Partners. Financial terms of the transaction were not disclosed.

As we embark on this new phase of TCW’s evolution, I am very excited to
do so with two partners who are equally as dedicated to building
long-term value for the benefit of our clients,” said TCW President and
CEO David Lippman. “This alignment of culture is crucial, and I look
forward to working with Nippon Life and Carlyle for many years to come.”

As of the close of the transaction, the TCW Board is now comprised of
nine directors. TCW management holds four seats and continues to be
represented by Marc Stern, David Lippman and Laird Landmann. In
addition, Jess Ravich joins the TCW representatives on the Board.
Carlyle holds three seats and is represented by Eliot Merrill, John
Redett and James Burr, and Nippon Life Insurance holds two seats,
represented by Hiroyuki Nishi and Yutaka Ideguchi.

About The TCW Group

TCW is a leading global asset management firm with a broad range of
products across fixed income, equities, emerging markets and alternative
investments. With more than four decades of investment experience, TCW
today manages approximately $200 billion in client assets. Through the
MetWest Funds, TCW Funds and TCW Alternative Funds families, TCW manages
one of the largest mutual fund complexes in the U.S. TCW’s clients
include many of the world’s largest corporate and public pension plans,
financial institutions, endowments and foundations, as well as financial
advisors and high net worth individuals. For more information, please

About Nippon Life Insurance Company

Nippon Life is Japan’s leading private life insurer with revenues of
approximately 5,236 billion Yen ($47.6 billion) and profits of over
685.5 billion Yen ($6.2 billion). Since its foundation in 1889, Nippon
Life has been offering a wide range of products, including individual
and group life and annuity policies through various distribution
channels. Nippon Life also provides asset management business through
subsidiaries and affiliates, meeting diversifying customers’ needs.
Nippon Life employs more than 70 thousand people and has operations in
Japan, North America, Europe and Asia. For more information, please

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with $174 billion of assets under management across 306 investment
vehicles as of September 30, 2017. Carlyle’s purpose is to invest wisely
and create value on behalf of its investors, many of whom are public
pensions. Carlyle invests across four segments – Corporate Private
Equity, Real Assets, Global Market Strategies and Investment Solutions –
in Africa, Asia, Australia, Europe, the Middle East, North America and
South America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer & retail, energy &
power, financial services, healthcare, industrial, infrastructure, real
estate, technology & business services, telecommunications & media and
transportation. Carlyle employs more than 1,550 people in 31 offices
across six continents.

Various matters discussed in this news release constitute
forward-looking statements within the meaning of the federal securities
laws. Actual results and the timing of certain events could differ
materially from those projected or contemplated by these forward-looking
statements due to a number of factors, including general economic
conditions, overall availability of certain types of securities for
investment by the Fund, the level of volatility in the securities
markets and in the share price of the Fund, and other risk factors
outlined in the Fund’s SEC Filings.


The TCW Group
Doug Morris, +1-213-244-0509
of Corporate Marketing and Communications
[email protected]
Carlyle Group
Liz Gill, +1-202-729-5385
[email protected]
Life Insurance Company
Naoki Yamamoto, +81-3- 5533-1032
of Public & Investors Relations Department
[email protected]


Category: BusinessWire, PRAsia

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