Nippon Life to Invest Up to $3.25B in TCW Alts Credit Strategies 

Nippon Life Insurance Company announced it intends to commit up to $3.25 billion in additional anchor capital to TCW Group’s alternative credit strategies and increase its minority ownership stake in the asset manager in the future. The expansion of the partnership will support TCW in launching new alternative credit capabilities and accelerate its long-term strategic growth plan. 

Los Angeles-based TCW has more than doubled its alternative credit assets under management over the past four years, in addition to managing $175 billion in public fixed income investments. In May, TCW and PNC Financial Services entered a partnership to extend private credit to middle market companies, which is expected to further grow TCW’s private credit business.  

Additionally, in February, TCW formed a dedicated asset-backed finance business with more than $1 billion in capital commitments. Over the coming quarters, the firm expects to add new alternative credit strategies, including real estate credit. 

“Nippon Life has long admired and invested with TCW across private and public markets for its outstanding investment expertise and we are pleased to strengthen our partnership and support the further growth of TCW,” said Hiroshi Shimizu, president of Nippon Life. 

Jefferies LLC acted as sole financial advisor to TCW, and Kirkland & Ellis LLP acted as TCW’s legal counsel.