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RRJ, Temasek invest nearly €1.3bn in ING unit

30 Apr 2014

insurance contract formPrivate equity firm RRJ and Singapore’s sovereign wealth fund Temasek have invested €1.275bn in ING Groep’s European and Japanese insurance and asset management unit NN Group.

RRJ will invest €750m in NN, which is preparing for an IPO, and the remaining €525m will come from Temasek, said ING.

Last December private equity firm MBK Partners secured regulatory approval to buy ING Groep’s South Korean insurance unit for $1.75bn.

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