Japan’s Mizuho has acquired a minority stake in a US-based asset manager specializing in private credit.
Mizuho Financial Group has formed a strategic partnership with Golub Capital, according to a statement.
As part of the tie-up, Mizuho has purchased a passive, non-voting minority stake in Golub Capital’s management companies. The Japanese bank will also serve as a strategic distribution partner for Golub in Japan, including being the exclusive distributor of its investment products to retail and high net worth investors in the country.
In addition, the two will explore more collaboration in future opportunities to serve their respective stakeholders.
First-Time Stake
According to the announcement, the investment marks the first time Mizuho has taken a direct stake in a US-based private credit asset manager. The stake represents an economic interest of less than 5 percent in Golub's management companies. The asset manager plans to use the proceeds to «further enhance its ability to deliver distinctive, compelling and reliable financing solutions to private equity sponsors».
«We are delighted to partner with Golub Capital, a leading alternative asset manager, to meet the increasingly diversified needs of investors in Japan,» said Masahiro Kihara, president and GCEO of Mizuho Financial Group. «Mizuho will continue to enhance its investment capabilities and expand its product lineup, contributing to both individual wealth growth in Japan and the continued success of our asset management business.»
Based in the US, Golub Capital is a direct lender and private credit manager with offices in North America, Europe and Asia housing over 950 employees. As of July 1, it had over $70 billion of capital under management.
