[ad_1]
Aflac World Investments (AGI), the asset administration subsidiary of Aflac, has agreed to accumulate a 40 per cent stake in non-public credit score agency Tree Line Capital Companions.
Tree Line is a San Francisco-based decrease middle-market direct lender that was based in 2014 by managing companions Tom Quimby and Jon Schroeder, with preliminary backing by funds managed by Stone Level Capital.
Learn extra: Eldridge and Raymond James launch non-public credit score enterprise
The agency presently manages $2.7bn (£2.1bn) in property and has dedicated $5bn in over 360 investments since inception.
Tree Line will retain funding and operational autonomy with Quimby and Schroeder persevering with to handle the enterprise and serving on its board of administrators.
Below the phrases of the deal, Aflac is making a multi-year dedication to allocate a portion of its annual investable cashflow to Tree Line.
Learn extra: Eldridge Industries in talks to purchase Hayfin
“We’re happy to announce this strategic partnership with Tree Line as we proceed to advance our progress technique for Aflac World Investments and leverage our outsourcing capabilities to generate further worth for Aflac and our stakeholders,” Aflac’s government vice chairman and world chief funding officer Bradley E. Dyslin mentioned. “Tree Line’s disciplined method to credit score underwriting aligns strongly with our core funding ideas. We’re happy to associate with them and acquire their experience in center market direct lending, which stays a strategically vital asset class for our $100bn funding portfolio.”
Learn extra: Brookfield invests $1.5bn in non-public credit score supervisor Castlelake
Quimby and Schroeder mentioned: “The partnership between Aflac World Investments and Tree Line will speed up our agency’s progress in direct lending and construct upon the good repute and tradition we now have established over the past 10 years.
“Tree Line has loved constant progress since its inception and is now in an excellent stronger place to develop and ship higher capabilities to our traders, sponsors and debtors. Strategic partnerships are significantly vital to non-public credit score managers in as we speak’s surroundings, and we couldn’t be extra excited to associate and develop our platform with Aflac World Investments.”
[ad_2]
