Japan’s Mizuho Financial Group has taken its first minority stake in a U.S.-based private credit manager, forming a strategic partnership with Golub Capital.
Mizuho purchased a passive, non-voting minority stake in the $70 billion Golub Capital’s managing companies, a joint news release said. Mizuho Financial Group has total assets of about $2 trillion.
Mizuho will become a strategic distribution partner for Golub in Japan, acting as the exclusive distributor of investment products to retail and high-net-worth investors in the country. All proceeds from the deal will remain invested in Golub. The stake represents an economic interest in Golub’s management companies of less than 5%. Terms of the deal were not disclosed, a spokesperson confirmed.
The two firms will also look at collaborating on future “win-win” business opportunities, the release added.
"This strategic partnership represents a strong endorsement of our franchise by a global financial institution with a home office in Japan,” said David Golub, president of Golub Capital, in the release. “We remain focused on deepening our commitment to investors in Japan and delivering more opportunities to investors seeking access to our proven private credit strategies.”
Masahiro Kihara, president and group CEO of Mizuho Financial Group, added in the same release: “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.”
