Mitsui buys New Ocean stake, commits $100mn

Mitsui & Co has acquired a 15 percent stake in New Ocean
Capital Management and committed an initial $100mn of investment
funds to the asset-management platform majority owned by XL
Group.
About a fifth of the funding, $21mn, has already been invested,
Mitsui said in a statement. The Tokyo-based company said it would
strive to supply additional capital to New Ocean by 2020.
After purchasing the stake from existing investors, a Mitsui
representative will join the board of New Ocean,...