Ashmore Group PLC (LSE:ASHM) announced on Tuesday that it has entered into a strategic partnership with Japan Post Insurance, which includes a $1 billion investment commitment to its emerging markets funds along with the purchase of an equity stake in the company.
As part of the agreement, Japan Post Insurance plans to allocate $1 billion across a selection of Ashmore’s emerging markets investment strategies. The capital will be deployed gradually over roughly 12 months rather than being invested all at once.
In addition to the fund investment, Japan Post Insurance intends to build a 2.9% shareholding in Ashmore Group through purchases in the open market. The company did not provide a timeline for when those share acquisitions will take place.
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