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Business deals

Mitsubishi UFJ Trust to acquire U.K. asset manager AlbaCore Capital

Japan company to buy stake via Australia arm, looks to diversify management

The unit of the Japanese megabank intends to strengthen its non-traditional alternative investment business with the acquisition.

TOKYO -- Mitsubishi UFJ Trust and Banking will acquire AlbaCore Capital Group of the U.K., part of the Japanese bank's attempts to diversify asset management amid market instability, the company has announced. 

The U.K. investment manager was established in 2016. It manages $9.5 billion worth of assets.

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