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Samsung Life Insurance headquarters building in Seoul. (Photo = Samsung Life Insurance) |
[Alpha Biz= Paul Lee] Samsung Life Insurance is in talks to acquire a stake in Hayfin Capital Management, a leading European private equity fund (PEF) manager overseeing approximately €340 billion (about KRW 55 trillion) in assets.
While the exact stake size has not been disclosed, industry officials noted on September 11 that the move reflects Samsung Life’s strategy to diversify its revenue sources amid slowing growth in Korea’s life insurance sector by expanding overseas alternative investment opportunities.
The deal follows recent minority stake acquisitions in Hayfin by Mubadala, the sovereign wealth fund of the United Arab Emirates, and AXA Investment Managers (IM) Prime of France in July.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
