Mitsui Sumitomo acquires 18% stake in Barings for $1.44bn

Written by Adam Cadle

17/11/2025

MassMutual has entered into an agreement in which MS&AD Insurance Group Holdings, (MS&AD) will acquire an 18% equity stake in Barings, MassMutual’s global asset management subsidiary, through its subsidiary Mitsui Sumitomo Insurance Co. (MSI), a leading Japanese insurance company.

Through the transaction, MassMutual will gain a strategic partner that shares its deep commitment to Barings’ growth and long-term success while also receiving approximately $1.44bn in cash proceeds.

MassMutual will remain Barings’ majority owner and Barings will continue to manage MassMutual’s general investment account.

Furthermore, Barings will continue to operate as an independent subsidiary of MassMutual with no changes to its day-to-day operations, investment committees, processes, or strategy.

MS&AD will provide growth capital to support Barings in achieving its long-term growth strategy, and Barings will expand its existing relationship with MS&AD through the management of assets within MS&AD’s general investment account.

“At MassMutual, one of our distinct competitive advantages to deliver sustained value to our policyowners has long been our diverse portfolio of strategic businesses and investments, of which Barings plays a key role,” said Roger Crandall, chairman, President and CEO of MassMutual.

“This investment by MS&AD creates a strategic partnership with a leading global insurance company that is also deeply committed to Barings’ long-term success. The transaction accelerates Barings’ growth and builds on our long-standing, successful optimisation of the intersection of insurance and asset management, allowing us to realise even more value over time and ultimately benefiting our policyowners and customers.”

Related Articles