JPI intends to invest a further $1bn in Ashmore's emerging market funds.
Ashmore Group has agreed a strategic partnership with Japan Post Insurance (JPI) to capitalise on emerging markets.
The emerging markets specialist and life insurance group aim to build on their eight-year relationship to mutually benefit by giving Ashmore more access to Japanese clients and JPI better options for emerging markets investment.
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The Japanese firm intends to invest a further $1bn in Ashmore's emerging market funds.
Under the terms of the partnership, JPI will also acquire up to a 2.9% equity stake in Ashmore through open-market purchases.
Mark Coombs, CEO of Ashmore, said: "I am delighted to be deepening Ashmore's relationship with Japan Post Insurance, one of Japan's leading insurance institutions.
"This new strategic partnership reflects the strength of our relationship, Japan Post Insurance's commitment to deploy additional capital in the broad range of attractive emerging market asset classes and our shared commitment to work closely and grow together."
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Kunio Tanigaki, president and CEO of Japan Post Insurance, added: "Ashmore has been a long-standing partner for JPI in emerging market asset classes and it is our pleasure to formalise an enhanced strategic relationship today.
"Emerging markets represents a strategically important and growing asset class for JPI and this partnership provides us with access to a broad range of market leading investment capabilities."
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