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Janus Capital and Dai-ichi Life Enter Strategic Alliance
- Client News
- August 10, 2012
Practices
After negotiations that lasted almost two years, our client, Janus Capital Group Inc. announced an agreement for a strategic alliance with The Dai-ichi Life Insurance Company, Limited, the third-largest life insurer in Japan. Dai-ichi Life will acquire at least 15% (and no more than 20%) of Janus's outstanding common shares through open market purchases and potentially through the exercise of conditional options issued to Dai-ichi Life by Janus. As part of this alliance, Dai-ichi Life will support Janus's distribution initiatives in Japan and plans to invest $2 billion of its general account assets with Janus, including seed capital for Janus investment strategies.
The Paul, Weiss team advising Janus on the transaction included M&A partners Toby Myerson, Steven Williams and Kaye Yoshino, and counsels Ross Fieldston, Scott Grader and Didier Malaquin.