The world’s largest and most sophisticated asset management firms regularly turn to Paul, Weiss’s Asset Management M&A Group for their most complex and pivotal transactions. Drawing on our premier M&A and investment funds teams, we seamlessly execute transformational mergers, acquisitions, GP stakes transactions, minority investments and strategic partnerships.
Canyon Partners to Receive Strategic Minority Investment From Dai-ichi
- Client News
- March 14, 2024
Paul, Weiss is advising Canyon Partners, a $24 billion global alternative investment manager, in its sale of a 19.9% stake in its business to Dai-ichi Life Holdings, the largest publicly traded life insurance group in Japan. Under the terms of the agreement, all the net proceeds from the transaction will be retained on Canyon's balance sheet and reinvested in the business, providing funding to seed new products and optimally scale existing products. Dai-ichi will also be committing at least $1.3 billion of LP capital to several of Canyon's commingled funds. Additionally, Dai-ichi has the right to acquire up to 51% of the equity interest in Canyon in 2027 and up to 100% in 2029. The transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals.
The Paul, Weiss team is led by corporate partners Ellen Ching, Kenneth Schneider, Marco Masotti and Brad Brown, and includes partner Aaron Schlaphoff, and counsel Ari Nishitani, Jyoti Sharma, Rosita Lee, Nathan Mitchell and Jennifer Songer; tax partner Brian Krause; litigation partner John Carlin; executive compensation partner Lawrence Witdorchic; and intellectual property partner Claudine Meredith-Goujon.