Aflac Global Investments Announces Strategic Partnership with Varagon Capital Partners, L.P.
Summary
NEW YORK, Jan. 8, 2020 /PRNewswire/ -- Aflac Global Investments, the asset management subsidiary of Aflac Incorporated, announced today it has entered into a definitive agreement to purchase a significant non-controlling minority interest in Varagon Capital Partners, L.P. (Varagon), a direct lending asset manager that has made over $14.5 billion of financing commitments as of December 31, 2019. This investment supports our strategic asset allocation and leverages our external management platform to create enhanced value for Aflac and our stakeholders. It allows us to diversify our revenue streams and participate in the growth of a leading asset manager in an important and growing segment of the private markets. This partnership will allow us to further build on our proven broad-based direct origination capability and rigorous underwriting process while meeting the needs of our borrowers for proprietary middle market corporate loans. We are thrilled to partner with their expertise as we build toward our long-term strategic asset allocation for private direct lending through a tactical approach across market cycles.