Delphi Financial Group Agrees to Acquire Majority Stake in ACORE Capital

November 11, 2025

Tokio Marine Holdings’ wholly owned subsidiary Delphi Financial Group, Inc. (Delphi) has agreed to acquire a majority stake in ACORE Capital, LP. ACORE will continue to operate independently under its existing leadership while Delphi grants ACORE investment discretion over Delphi’s $10+ billion commercial real estate debt portfolio.

Buyers
Delphi Financial Group, Inc., Tokio Marine Holdings, Inc.
Targets
ACORE Capital, LP
Location
New York, United States
Transaction Type
Buyout

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