Samsung Financial, $650 Million Investment Agreement with Blackstone "Expanding Alternative Investments"

[Asia Economy Reporter Changhwan Lee] Samsung Life Insurance and Samsung Fire & Marine Insurance, subsidiaries of Samsung Financial Networks, held a board meeting and announced on the 28th that they signed a fund investment agreement worth $650 million (926 billion KRW) with Blackstone to actively expand overseas alternative investments.

Blackstone, headquartered in New York, USA, is the world's largest private equity fund management company. Through this agreement, Samsung Life Insurance and Samsung Fire & Marine Insurance will be able to expand investments in overseas real estate, infrastructure, and PE (private equity) funds managed by Blackstone. Fund management will be handled by Samsung Asset Management and Samsung SRA Asset Management, which is expected to create synergy effects alongside Blackstone's excellent management capabilities.

This agreement marks the first joint investment collaboration between Samsung Life Insurance and Samsung Fire & Marine Insurance since the launch of Samsung Financial Networks. The investment scale is the largest among the funds signed with global top asset management firms by Samsung Financial Networks. In addition to this agreement, Samsung Life Insurance and Samsung Fire & Marine Insurance plan to continue collaborating with Blackstone on overseas alternative investments.

A Samsung Life Insurance official stated, "Blackstone is a company well-suited to our global asset management business expansion strategy, so it is meaningful to sign this agreement," adding, "We will actively pursue the expansion of our global asset management business to strengthen and diversify our revenue base going forward."