Japanese insurer Meiji Yasuda Life Insurance plans to increase its commitments to Man Group investment strategies to ¥200 billion ($1.25 billion) over three years and is considering acquiring an equity stake in the hedge fund and alternative asset manager.
The expanded arrangement builds on a strategic partnership announced in February 2025, with the increased commitments focused particularly on private credit. Officials did not specify how much Meiji Yasuda had previously committed to Man Group’s strategies.
Meiji Yasuda is also considering acquiring approximately 5% of Man Group, which manages $271 billion in assets. Any acquisition would take place on the open market, with no new shares issued by Man Group.
Under the terms of the agreement, any shares acquired by Meiji Yasuda would be subject to a three-year lock-up from the date of the agreement. A standstill restriction would cap its holdings at 19.99% of Man Group’s issued share capital, with additional provisions governing future share disposals.
The two companies will also co-develop investment products for the Japanese market. Man Group offers multiple private credit strategies, including direct lending, residential real estate, structured credit and opportunistic credit.
Under the expanded partnership, Man Group will become a preferred asset management partner to Meiji Yasuda, providing access to investment advisory services through the Oxford-Man Institute, a University of Oxford research center focused on quantitative finance. The arrangement also includes knowledge sharing on technology and personnel exchanges intended to develop Meiji Yasuda’s asset management capabilities.
Hideki Nagashima, president and group CEO of Meiji Yasuda Life Insurance, described Man Group as a partner with expertise in quantitative investment management, artificial intelligence and private assets. He said the expanded relationship would provide access to additional investment strategies and support the insurer’s internal asset management capabilities.
“We have built a deeply important relationship with Meiji Yasuda over several years and are very pleased to expand our strategic partnership,” said Man Group CEO Robyn Grew. “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.”
Grew said the potential equity investment would further align the long-term interests of the two companies.
