MassMutual and its global alternative asset management subsidiary Barings have announced MS&AD Insurance Group Holdings, Inc. has completed the acquisition of an 18% equity stake in Barings through its subsidiary, Mitsui Sumitomo Insurance Co., Ltd., a leading Japanese insurance company.

With the successful closing of this transaction, Barings and MassMutual welcome a long-term strategic partner committed to accelerating Barings’ growth through additional capital and assets. Barings will manage an increased share of MS&AD’s general investment account and help strengthen the insurance company’s investment portfolio through its capabilities across credit, real assets, capital solutions and emerging markets.

Read full press release here.