Carlyle Group LP is in talks to sell a stake in bond manager TCW Group Inc. to bidders including Japan's Nippon Life Insurance Co. and Mitsubishi UFJ Financial Group Inc., according to people familiar with the matter.
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The private-equity firm, which bought 60% of TCW from French bank Société Générale SA in 2013, has been exploring the sale of at least part of its stake for months. MUFG, as it is known, emerged as a potential buyer of the $200 billion asset manager after discussions with Nippon were already under way, the people said. Other American and European firms subsequently expressed interest, they said, though it is unclear how serious those talks are.
A deal may not materialize, the people cautioned.
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(END) Dow Jones Newswires
September 27, 2017 12:42 ET (16:42 GMT)