MSI to Acquire 18 Percent Stake in Barings for $1.44 Billion

Cravath represented Mitsui Sumitomo Insurance Co., Ltd. (MSI) in the transaction. On November 17, 2025, MSI agreed to acquire an 18% equity interest in Barings LLC, an asset management company and wholly owned subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), from MassMutual. MassMutual will receive approximately $1.44 billion as a result of the transaction. Barings will continue to operate as an independent subsidiary of MassMutual following the sale. Cravath represented MSI with a team composed by: partner G.J. Ligelis Jr. (lead) and of counsel Nathan Noh, associates Connor F. O’Neill and Thomas F. Newcomb and foreign associate Guglielmo Ziani on M&A matters; partner Christopher K. Fargo and associates Carlos Nicholas Obando and Chloe Amarilla on tax matters; partner Amanda Hines Gold and associate Caroline Wyatt on executive compensation and benefits matters; partner David J. Kappos and associates Liza C. Clark and Albert Wong on intellectual property matters; partner Jeffrey T. Dinwoodie and associate Max D. Brashear on financial institutions matters; practice area attorney Brian M. Budnick on real estate matters; and Jason Yung Liang on intellectual property matters.

MSI to Acquire 18 Percent Stake in Barings for $1.44 Billion

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