(Samsung Financial Networks)
The insurance subsidiaries of the Samsung group announced on Wednesday that they had signed an agreement with the American asset management giant Blackstone Inc. to invest some $650 million in alternative assets, such as real estate and infrastructure.
Both – Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co. – will contribute to the amount of the alternative fund managed by Blackstone.
In recent years, Samsung’s financial companies have aggressively pushed for global investment.
Samsung Life has bought a 25% stake in Savills Investment Management, the property management arm of British property giant Savills.
Samsung Fire & Marine Insurance bought a 19% stake in British reinsurer Canopius AG between 2019 and 2020. (Yonhap)