Japan’s MS&AD Insurance Group has purchased an 18% shareholding in Barings via its subsidiary Mitsui Sumitomo Insurance. MassMutual, Barings’ parent company, keeps an 82% controlling interest. Barings will operate independently as usual with no adjustments to its daily work, investment procedures and overall strategy, and remain in charge of most of MassMutual’s general investment account.

Post-deal, Barings will manage a larger portion of MS&AD’s general investment account. It will leverage its expertise in credit, real assets, capital solutions and emerging markets to improve MS&AD’s investment portfolio.