Man Group's private credit assets grew to $14.1 billion in the year to September 2026. Meiji Yasuda Life Insurance is weighing a stake of approximately 5% in the alternative investment manager. The Japanese insurer would make any acquisition of the stake in the open market, with no new shares issued by Man Group.
Any purchase of Man Group's shares by Meiji Yasuda is subject to a three-year lock-up from the date of the agreement and a standstill capping its holding at 19.99% of Man Group's issued share capital. The financial terms of the transaction are not disclosed. The terms point to a long-term holding rather than a trading position.
In February 2025, Meiji Yasuda said it would diversify its private asset investment through its work with Man Group, including the use of emerging managers. Meiji Yasuda would place $1 billion (150 billion yen) at Man Group for private assets. The insurer's fiscal 2024 to 2026 programme treats asset management as a growth strategy and plans to expand its investment in private assets by about 3.75 billion dollars (600 billion yen), at the rate given in Man Group's announcement over the three years.
Man Group's private credit assets were 14.1 billion dollars at the end of September 2026, up from 10.9 billion dollars a year earlier. The larger commitment is aimed at a private credit business that grew over the past year. The deal supports Man Group's strategic ambitions to continue growing its private credit platform. "Meiji Yasuda's increased commitment to our investment strategies underlines our capabilities in private credit and demonstrates our ability to serve large insurance clients globally," said Robyn Grew, chief executive of Man Group.
Meanwhile, Meiji Yasuda wants to strengthen its own asset management through access to Man Group's strategies and knowledge. "Through this expansion of our strategic partnership, we will further promote access to a broad range of investment strategies, the sharing of advanced knowledge, and personnel exchanges, thereby further enhancing our asset management capabilities," said Hideki Nagashima, president and group chief executive of Meiji Yasuda. Man Group and Meiji Yasuda are to co-develop new products for the Japanese market, and Man Group is set to become a preferred asset management partner to the insurer. Man Group is also giving Meiji Yasuda access to the Oxford-Man Institute.
The commitment adds to a private credit business Man Group expanded in September 2023, when it completed its acquisition of US private credit manager Varagon Capital Partners.
Source: PE Insights · Summarized by HeadlinesBriefing