Overview
- Dai-ichi Life’s 15% acquisition makes it M&G’s largest single shareholder and confers the right to appoint a director to the asset manager’s board for as long as the stake is held.
- The partnership is projected to generate $6 billion of new business flows for M&G and $2 billion for Dai-ichi Life over the next five years.
- The transaction underscores a broader consolidation trend in the asset management industry as firms seek scale to rival US giants such as BlackRock and Vanguard.
- Following the announcement on May 30, M&G shares jumped over 8% in early trading to their highest level since June 2021.
- The deal continues Dai-ichi Life’s global expansion strategy after recent 15% stakes in Capula Investment Management and Australia’s Challenger.