TOKYO -- Dai-ichi Life Holdings has agreed to buy a minority stake in U.S. fund manager Canyon Partners, the Japanese insurance provider said Thursday, as it aims to expand its alternative assets business.
Dai-ichi Life and Canyon Partners signed the funding deal the same day. Dai-ichi Life's U.S. subsidiary DLUS will purchase a 19.9% stake for $255 million in a newly created holding company overseeing Canyon Partners.
