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TCW eyes Asia expansion post stake sale

TCW eyes Asia expansion post stake sale

US fixed income asset manager TCW Group said there may be opportunities to leverage from its partnership with Nippon Life Insurance Company to grow its Asian presence.

Last week, the Japanese private life insurance company acquired 24.75% stake in TCW from private equity firm The Carlyle Group.

As a result of the deal, Carlyle maintains a 31.18% stake in TCW while its employee ownership increases to 44.07%.

A spokesperson from TCW told Citywire Asia that the company is now working with Nippon’s subsidiary, Nissay Asset Management (AM), to bring its fixed income expertise to the Japanese market.

Currently, Nissay AM distributes the TCW Global Artificial Intelligence Equity Fund and TCW Thematic Rotation Equities Fund to investors in Japan.

‘TCW’s top priority is to maintain an employee-owned and governed firm, which focuses on the long-term delivery of clients results,’ the spokesperson said commenting on the acquisition.

‘It was always expected that the current structure, which was until our announcement last week, would be in place for a timeframe consistent with private equity ownership.’

Over the past few years, TCW explored a number of long-term capital and partnership opportunities with many institutions.

Among those, Nippon Life emerged as a suitable partner because it shares a long-term vision for the asset management business as well as its client-focused approach.

The US asset manager has some well-known portfolio managers managing Ucits-compliant funds, including Citywire + rated Tad Rivelle and Bryan Whalen.

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