Mergers & Acquisitions / Joint Ventures

Japan’s Orix buys majority stake in US-based Mariner group

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Tokyo-based Orix Corp is acquiring a majority stake in MIG Holdings, the parent firm of $11.7 billion US hedge fund Mariner Investment Group, in a deal that will give the Japanese financial services conglomerate an entry into the US asset management sector.

Orix, which has operations across banking, real estate, brokering and equipment leasing, did not disclose the financial terms of the agreement, although Japanese media valued the deal at $184 million. New York-based Mariner would gain exposure and capital from Asia through the agreement, which will see the firm’s partners sell a portion of their shares to Orix, although they will maintain a significant stake.

The Japanese