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Samsung insurers to expand global alternative investment via Blackstone

Corporate Newsroom 10:38 September 28, 2022

SEOUL, Sept. 28 (Yonhap) -- Samsung Group's insurance affiliates said Wednesday they have signed a deal with U.S. asset management behemoth Blackstone Inc. to invest some US$650 million in alternative assets, such as real estate and infrastructure facilities.

The two -- Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co. -- will chip in the amount in the alternative fund managed by Blackstone.

In recent years, Samsung's financial firms have been aggressively pushing for global investment.

Samsung Life bought a 25 percent stake in Savills Investment Management, the real estate management leg of British property giant Savills.

Samsung Fire & Marine Insurance purchased a 19 percent stake of British reinsurer Canopius AG between 2019 and 2020.

Samsung insurers to expand global alternative investment via Blackstone - 1

jwc@yna.co.kr
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