Man Group has expanded its strategic partnership with Meiji Yasuda Life Insurance Company, with a focus on private credit and an opportunity for the life insurer to acquire an equity stake in the alternative manager.

Meiji Yasuda intends to increase its capital commitment to Man Group’s investment strategies to JPY200bn (£952.4m) over the next three years, with a particular focus on private credit.

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Under the expanded partnership, which dates back to February 2025, the two firms will co-develop new products for the Japanese market.

Meiji Yasuda is also considering the acquisition of an equity stake of approximately five per cent in Man to further align the firms’ interests.

It has been confirmed that, were the acquisition to proceed, it would be in the open-market with no new shares being issued by Man Group.

The expanded partnership provides Meiji Yasuda with greater access to Man Group’s expertise, including knowledge sharing on topics such as technology, as well as access to investment advisory services through the Oxford-Man Institute.

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“Man Group is an important partner for Meiji Yasuda, with extensive expertise in quantitative investment management, AI utilisation, private assets, and other areas,” said Hideki Nagashima, president and group chief executive of Meiji Yasuda Life Insurance Company. 

“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,” added Nagashima.

“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. 

“The intention to acquire an equity stake reflects our shared vision for the future and further aligns the long-term interests of both companies.”

Under the terms of the arrangement, any acquisition of Man Group’s shares by Meiji Yasuda will be subject to a three-year lock-up from the date of the agreement, a standstill restriction that caps its acquisition at 19.99 per cent of the alternative manager’s issued share capital.

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