Carlyle Group in Talks to Sell TCW Group Stake, Sources Say
September 27 2017 - 12:57PM
Dow Jones News
By Sarah Krouse, Justin Baer and Miriam Gottfried
Carlyle Group LP is in talks to sell a stake in bond manager TCW
Group Inc. to bidders including Japan's Nippon Life Insurance Co.
and Mitsubishi UFJ Financial Group Inc., according to people
familiar with the matter.
The private-equity firm, which bought 60% of TCW from French
bank Société Générale SA in 2013, has been exploring the sale of at
least part of its stake for months. MUFG, as it is known, emerged
as a potential buyer of the $200 billion asset manager after
discussions with Nippon were already under way, the people said.
Other American and European firms subsequently expressed interest,
they said, though it is unclear how serious those talks are.
A deal may not materialize, the people cautioned.
Write to Sarah Krouse at sarah.krouse@wsj.com, Justin Baer at
justin.baer@wsj.com and Miriam Gottfried at
Miriam.Gottfried@wsj.com
(END) Dow Jones Newswires
September 27, 2017 12:42 ET (16:42 GMT)
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