Dai-Ichi Pledges $2B To Janus After Buying 20% Stake

Law360, New York (August 10, 2012, 2:55 PM EDT) -- Japanese life insurer Dai-ichi Life Insurance Co. Ltd. will put at least $2 billion into investment products managed by U.S. asset manager Janus Capital Group after agreeing to purchase up to 20 percent of Janus' common shares, the parties said Friday.

In connection with the deal, Dai-ichi will support Denver-based Janus' global asset management business, distributing various investment products selected by DAIM Co. Ltd., Dai-ichi's asset management unit, and extending DAIM Co.'s reach into the U.S.

Dai-ichi entered an option agreement with Janus to purchase 700,000...
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