Mitsubishi Corp. will form MC Asset Management Holdings, LLC (MCAMH), an asset management company in the United States, jointly with the current founding chairman and CEO of Aladdin Capital Holdings LLC (ACH), Aminkhan Aladin, it was announced on Nov. 18.
Mitsubishi said the transaction provides for the acquisition of certain businesses and assets of ACH. MCAMH will be 80 percent owned by Mitsubishi and 20 percent owned by Aladin.
Mitsubishi plans to expand MCAMH's business as a platform for its asset management business in several asset classes.
MCAMH will acquire selected investment strategies from ACH and will manage various strategies, including a new infrastructure debt platform. ACH will continue as a structured fixed-income asset manager.
The proposed transaction also will include the acquisition of certain ACH's advanced middle/back-office functions to support each managed fund. In addition, Mitsubishi will strengthen its existing subsidiary distributors in Japan, the U.S. and Europe by integrating ACH marketing functions.
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