Nomura Asset to invest in Indian life insurer unit
Nomura Asset Management Co aid it has agreed to invest in an asset management unit of Life Insurance Corp of India.
TOKYO: Nomura Asset Management Co, the fund management unit of Nomura Holdings Inc, said it has agreed to invest in an asset management unit of Life Insurance Corp of India.
Nomura Asset will work together in India with LIC Mutual Fund Asset Management Co on the asset management business, said Riyo Azechi, a spokeswoman for Nomura Asset, without elaborating.
Nomura Asset Chief Executive Officer Atsushi Yoshikawa said last month that the company was seeking opportunities to form capital alliances with foreign counterparts to grow faster overseas.
The Japanese firm last year took a minority stake in Research Affiliate, a US asset management company.
Nomura Asset will work together in India with LIC Mutual Fund Asset Management Co on the asset management business, said Riyo Azechi, a spokeswoman for Nomura Asset, without elaborating.
Nomura Asset Chief Executive Officer Atsushi Yoshikawa said last month that the company was seeking opportunities to form capital alliances with foreign counterparts to grow faster overseas.
The Japanese firm last year took a minority stake in Research Affiliate, a US asset management company.
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