InsuranceAUM.com

Nelson Correa, Head of Private Placements at NEAM, brings a wealth of expertise in private placement investments for insurance companies. He dives into why private placements are appealing, offering higher yields than public bonds while ensuring strong protections. Nelson dispels liquidity myths and discusses how these investments are structured to support long-term goals. He also shares market insights on infrastructure and family-owned companies, emphasizing the importance of relationships and due diligence in this unique investment landscape.

Bill McClay, a Portfolio Manager at Fidelity Investments, dives into the shifting landscape of high-yield real estate lending. He discusses how private lenders are stepping up as banks pull back, addressing the evolving needs of commercial real estate. Bill highlights Fidelity's strategic adaptations, including bridge loans and construction financing, to tackle current market challenges. He also shares insights on the importance of understanding credit risk and the opportunities in middle-market lending. Plus, there's a light-hearted take on the lessons learned from failure!

Join host Stewart Foley on the InsuranceAUM.com Podcast as we dive into the intricacies of private asset portfolio construction with insights from Bryan Jenkins and Eric Solfisburg of Hamilton Lane. This episode explores how a strategic approach to portfolio construction—focusing on factors like asset allocation, investment pacing, and liquidity management—can enhance outcomes for insurance investors. With over three decades in private markets, Hamilton Lane shares its expertise on balancing return and risk while managing the challenges of data and transparency that are unique to this asset class.   The conversation also covers the vital considerations around data and analytics, industry exposure, and the often-overlooked factor of asset location for insurers. Jenkins and Solfisburg emphasize the importance of a consistent, disciplined approach to private asset allocation, discussing tools and techniques Hamilton Lane uses to support sophisticated portfolio strategies. For insurers navigating private markets, this episode offers a valuable guide to constructing resilient, well-diversified portfolios that align with insurance-specific risk management needs.

In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, sits down with Ian Gilbertson, CLO Portfolio Manager and Co-Head of U.S. CLOs at Invesco, for a deep dive into the world of Collateralized Loan Obligations (CLOs) and their role in insurance investment portfolios. Ian provides a primer on CLOs, explaining their structure, the types of assets they hold, and why this asset class has shown such resilience and stability.   They discuss the growth of CLOs in insurance company portfolios, their historical performance, and why they continue to attract insurers even amid changing regulatory requirements. Ian also shares his insights on current opportunities in the loan market, the evolving credit cycle, and the outlook for CLOs in 2025, especially in a declining rate environment. Ian brings extensive expertise to the conversation, offering both high-level context and practical insights into the risks and rewards of this asset class for insurers.

In this episode of the InsuranceAUM.com podcast, Stewart Foley hosts Olaolu Aganga, U.S. Chief Investment Officer at Mercer, and Stephanie Thomas, Senior Investment Consultant at Mercer, to discuss the evolving role of OCIO (Outsourced Chief Investment Officer) services for insurance companies. They explore how Mercer's model uniquely integrates support for clients by combining Marsh McLennan’s insurance expertise with Mercer's deep investment consulting resources. Olaolu and Stephanie clarify how OCIO can function either as a full or partial extension of an insurance company's in-house team, offering a range of services from research support to full discretionary management.   With the growing complexity in private credit, asset-backed finance (ABF), and investment-grade alternatives, Stephanie explains how OCIO services can support insurers in navigating these emerging asset classes, providing an adaptable, client-specific approach. Olaolu highlights the partnership aspect of Mercer’s model, emphasizing that OCIO clients retain control over strategy while benefiting from Mercer's extensive resources and industry insights.

Armen Panossian, co-CEO and Head of Performing Credit at Oaktree Capital, shares his expertise in private credit and alternative investing. He discusses how economic fundamentals and regulatory changes, like Basel III, are reshaping insurer strategies. Armen highlights the growing importance of asset-backed finance and rescue lending for companies facing refinancing challenges. He emphasizes the unique opportunities in specialty finance and the benefits of rated feeder note structures for optimizing capital efficiency in corporate credit.

In this engaging discussion, Brett Hickey, Founder and CEO of Star Mountain Capital, shares his inspiring journey from a Canadian small-town speed skater to a leader in private credit. He delves into the untapped potential of the lower middle market, emphasizing strategic lending to family-owned businesses. Brett highlights the sector's unique advantages and how community-driven values shape investment decisions. He also discusses effective risk management and the wealth of opportunities in private credit, offering insights into building sustainable growth.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley dives into the evolving landscape of real estate finance with Bob Clark, Founding Partner of DW Partners and Chief Investment Officer at Domain Real Estate Partners. The discussion focuses on homebuilder finance, a niche yet critical area within the broader real estate market. Bob shares his journey from a math enthusiast with family ties in the pizza business to becoming a key player in the homebuilding finance industry, explaining how Domain provides crucial funding to homebuilders for land acquisition and development.   Bob elaborates on the unique capital needs of the homebuilding industry, the growing trend of homebuilders moving towards asset-light models, and the role of project finance in facilitating land and land development. The conversation also touches on the impact of mortgage rates, Fed policy, and the complex relationship between affordability and supply in the US housing market. Bob’s insights provide a clear understanding of how insurance companies can become more involved in financing these specialized areas, highlighting opportunities for insurers to capitalize on resilient and well-structured credit investments.   This episode is perfect for anyone interested in the intersection of real estate finance, homebuilding, and insurance capital, offering a thoughtful analysis of the long-term trends shaping the market.

In this insightful episode of the InsuranceAUM.com Podcast, host Stewart Foley engages in a dynamic discussion with Louis Pelosi, Managing Director of Client Solutions at SLC Management's Global Insurance Group. The conversation centers on Best Practices in Strategic Asset Allocation (SAA) in an Evolving Regulatory Environment. Louis shares his deep experience in navigating the complexities of insurance asset management, shedding light on the importance of aligning asset allocation with the liability profiles, regulatory capital concerns, and risk tolerances unique to each insurer.   The episode delves into how regulatory changes and the growing use of alternatives—such as private assets and structured securities—are shaping insurers' strategies. Louis highlights how liquidity management and understanding the business’s nuances are critical in constructing efficient portfolios for insurers. Whether you're interested in SAA trends, regulatory insights, or how to effectively manage evolving risks, this episode offers a wealth of practical knowledge for insurance investment professionals.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Jake Remley, CFA, senior portfolio manager at Income Research & Management, for a deep dive into the world of structured securities. Jake brings his 20-plus years of experience in securitization to the discussion, explaining complex concepts like "zombie securitizations" and how to identify tail risks in the evolving landscape of asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS).   Jake shares insights on avoiding potential pitfalls in structured credit investments and emphasizes the importance of bottom-up analysis in navigating complex securitizations. With real-life examples like the recent write-down of 1740 Broadway, the episode offers practical guidance for institutional investors aiming to understand securitized debt structures and optimize risk-adjusted returns. For those keen on fixed income, this episode sheds light on the nuances of structured credit and its implications for portfolio management.