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FUNDRAISING NEWS | December 12, 2024
Tags: Private Credit, Fundraising
TCW Group said it expects to receive an additional anchor commitment of up to $3.25B from Nippon Life Insurance, increasing the Japanese insurer’s minority stake in the asset manager and supporting TCW’s alternative credit strategies.
TCW, which managed $203B in assets as of September 30, said the expansion of its collaboration with Nippon Life will boost its capabilities to launch new alternative credit capabilities in support of its long-term strategy. In the past year, TCW entered into a partnership with PNC Financial Services to provide private credit to middle-market companies and formed a dedicated asset-backed finance business.
TCW tapped Jefferies and Kirkland & Ellis for the transaction as sole financial advisor and legal counsel, respectively.
Written By: Dakota
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