Simpson Thacher is representing Massachusetts Mutual Life Insurance Company (MassMutual) in connection with its announced $1.44 billion sale of an 18% equity stake in Barings LLC, a global asset management firm, to MS&AD Insurance Group Holdings, Inc. through its subsidiary Mitsui Sumitomo Insurance Co., Ltd. The transaction, subject to customary closing conditions, is expected to be completed in the first half of 2026.
As part of the transaction, MS&AD will provide growth capital to support Barings in achieving its long-term growth strategy. In addition, Barings will expand its existing relationship with MS&AD through the management of assets within MS&AD’s general investment account, helping to strengthen and diversify MS&AD’s investment portfolio and giving it greater access to Barings’ global public and private markets capabilities. A member of MS&AD’s leadership team will also join Barings’ Board of Managers.
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policy owners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits.
The Simpson Thacher team includes Elizabeth Cooper, Matthew Rogers, Samyel Lee, Michael Lazris and Celine Tseng (M&A); Jonathan Goldstein and George Rhein (Tax); Jamin Koslowe and Nicolas Deguines (Executive Compensation and Employee Benefits); Lori Lesser and Christian Bond (Intellectual Property); Ryan Bekkerus (Capital Markets); Étienne Renaudeau, Kelly Karapetyan, Henry Llewellyn, Luke Cowdell and Krystian Kmita (Antitrust); and Owen Lysak, David Blass, Meredith Abrams and Laura Wallace (Funds Regulatory).