Japan's MS&AD Insurance to buy 18% of Barings for$1.44 billion

TOKYO :Japan's MS&AD Insurance said on Monday that it will acquire an 18 per cent stake in U.S. asset manager Barings for $1.44 billion from parent company MassMutual.

As part of the strategic partnership, MS&AD will send a member from its leadership team to Barings’ board. The transaction is expected to close after customary closing conditions and approvals have been finalised, the company said.