New Ocean Capital Management Announces Strategic Relationship With Mitsui

(RTTNews) - New Ocean Capital Management Limited , along with its major shareholders, XL Group Ltd (XL) and Stone Point Capital, has announced a newly formed strategic relationship with Mitsui & Co., Ltd.

Mitsui has committed an initial $100 million of proprietary investment capital to New Ocean's private fund platform on a multi-year basis, and will endeavor to source additional capital by 2020.

As part of this strategic transaction, Mitsui also purchased a 15% stake in New Ocean from its existing shareholders. In addition a Mitsui representative will join the Board of New Ocean, alongside existing representatives from XL, Stone Point Capital, and Management. XL remains the majority shareholder in New Ocean.