Tokio Marine Capital Co. Ltd.'s management team will acquire the private equity fund manager from Tokio Marine Holdings Inc. subsidiary Tokio Marine & Nichido Fire Insurance Co. Ltd. and change its name to T Capital Partners Co. Ltd.
Following the management buyout, Tokio Marine Capital's top five executives will own 100% of the company, the Nikkei reported. The new owners aim to attract foreign capital to the venture capital business under a new governance structure.
The management buyout is set to take effect Sept. 30. Financial details of the transaction were not disclosed.
