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Mitsubishi Corporation Acquires U.S. Asset Management Business
Paul, Weiss client Mitsubishi Corporation acquired a portion of the asset management business of Aladdin Capital Holdings LLC (ACH) in a transaction that will enable Mitsubishi to expand its asset management business platform in several asset classes. This transaction creates a new U.S. asset management company, MC Asset Management Holdings, LLC. Mitsubishi will own 80 percent of the new company, and Mr. Aminkhan Aladin, the founding chairman and former CEO of ACH, will own the remaining 20 percent.
The acquired credit and debtor-in-possession funds, together with an anticipated new infrastructure fund, will continue to be managed from headquarters in Stamford, Connecticut and an office in Tokyo. The transaction closed on December 30 immediately following the completion of a corporate restructuring of ACH that included the redemption of Mitsubishi's 19.5 percent interest in ACH.
The Paul, Weiss team included corporate partner Marc E. Perlmutter and counsels Philip Heimowitz, Nathan R. Pusey and Jennifer A. Spiegel; bankruptcy counsel Claudia R. Tobler; tax partner Richard J. Bronstein; employee benefits partner Lawrence I. Witdorchic; and real estate counsel Barry Langman.