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Stock impact report

TCW Accelerates Growth in Alternative Credit Through Expanded Strategic Partnership With Nippon Life [Yahoo! Finance]

PNC Financial Services Group, Inc. (The) (PNC) 
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am Check Earnings Report
Company Research Source: Yahoo! Finance
LOS ANGELES, December 12, 2024 BUSINESS WIRE )--The TCW Group, Inc., a leading global asset manager, and Nippon Life Insurance Company, one of the world's largest life insurance companies, today announced that Nippon Life intends to commit up to $3.25 billion in additional anchor capital to TCW alternative credit strategies and increase its minority ownership stake in TCW in the future. The expansion of the partnership will support TCW in launching new alternative credit capabilities, cement TCW's position as a leading advisor to insurance companies globally, and accelerate TCW's long-term strategic growth plan. Katie Koch, President and Chief Executive Officer of TCW, said, "We are grateful for the confidence that Nippon Life has placed in our team through increasing its ownership interest in TCW and accelerating the diversification and growth of our alternative credit platform, alongside their existing and ongoing investments in public fixed income and public equities." In addi Show less Read more
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