Carlyle Group

The $217 billion alternative asset manager reported its biggest loss as a public company in the first quarter.

Asset managers are targeting massive amounts of capital to benefit from credit market stress as the coronavirus leaves many companies in need of support.

The $1.8 billion deal is expected to close in mid-2020.

The partnership aims to provide exposure to areas such as middle-market private equity, real estate and infrastructure.

Both already use the fintech company’s technology to market their products to advisors.

The new strategy will focus on long-term ownership of income-producing companies, not unlike Warren Buffett’s buy-and-hold style.

The estimated $490 million deal is a part of a push from Nippon Life to expand its asset management operations.

The pension fund wants to outsource some or all of its $26.2 billion in private equity investments with the money manager, people close to the matter said.