Episodes 271 & 272 of the InsuranceAUM.com Podcast + 11 New Articles!

Episode 271: Direct Lending Decoded: Macquarie's Strategic Approach to Middle Market Investing

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley , sits down with Brian Van Elslander , Head of MAM Direct Lending Portfolio Management, Americas, and Bill Eckmann , Head of Macquarie Principal Finance, Americas, to discuss the evolving landscape of direct lending. With private credit playing an increasingly significant role in institutional portfolios, Brian and Bill share insights on the growth of Macquarie’s direct lending platform, the firm’s approach to alignment and risk management, and key considerations for insurance investors exploring this asset class.

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Episode 272: The Art of Credit Underwriting: Lessons from OHA and Missouri Teachers

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley , is joined by Victor Debenedetti , managing director at Oak Hill Advisors, L.P. , and Anthony Vikhter , senior investment analyst at Public School and Education Employee Retirement System of Missouri , for an in-depth discussion on best practices in underwriting private credit. As private credit continues to expand, investors must understand the nuances of due diligence, risk assessment, and structuring deals to ensure long-term success.

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The Ghost of Climate 1.0

Some very smart investors are focused on finding, funding, and scaling companies that can really move the needle on climate impact. And the good news is that there is an outbreak of innovation in climate solutions—turning fish scales into plastic alternatives, capturing carbon from the air, submerging servers in liquid to cool them, or gene editing bananas to prevent them from browning easily. These are just a few examples of the plethora of solutions capturing our collective imagination and there is something very compelling about their potential to address major climate problems.

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2025 Private Credit Outlook

Key Points

1. Sponsored middle market loan activity remained relatively resilient during the past year, partly supported by demand for incremental or add-on financings.
2. We believe direct lending deal flow will continue to increase with generally constructive financing markets, substantial private equity dry powder in need of deployment and increased pressure to return capital to investors.
3. We see opportunity for growth across the diverse private credit landscape including asset-based lending, opportunistic capital, the unsponsored deal segment, growth companies requiring hybrid capital and real estate lending.

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Emerging markets: Battening down as Trump squall looms?

As economic headwinds gather due to his promised Americas-first policies, a look at the potential impact Trump 2.0 may have on emerging markets.

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Fixed income: Traversing a Trump 2.0 terrain

A look at how certain flexible strategies may help fixed income investors in navigating economic uncertainties and managing risk in 2025.

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Insight Investment: Thoughts for 2025

Executive Summary

• Global rates – time for a reality check: Real policy rates have moved from deep negative territory to the highest levels since before the global financial crisis, providing central banks with the flexibility to start easing. Although prudent rate cuts are necessary to underpin growth and ensure a soft landing, the exuberance of rate markets is questionable. Markets are now pricing in a faster easing cycle than previous crises, which seems at odds with an economy that is still growing and an equity market close to record highs. Unless economic data deteriorates significantly, markets may need to reassess expectations for both how rapidly rates will decline and the terminal level of rates...

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Trump 2.0: Back to the Future?

By the end of this month, President Trump will enter the White House for his second term with an economic backdrop quite different from that of his first term. While the policies he advocates for are of a similar style this time around, the entirely different economic situation means that those policies may have a different effect than they would have had in his first term.

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SPDR? ETFs Chart Pack - Jan 2025

SPDR? ETF Chart Pack – All the charts you need to help you navigate the market. From macro and market trends to ETF flows, fundamentals, and more.

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Opportunities for insurance investors

At Insight, we have managed insurance assets for over 30 years. We provide our insurance clients with dedicated investment, actuarial and client teams as well as a large team of fixed income specialists. We strive for close partnerships with our clients, delivering innovative and custom solutions to address their complex and often idiosyncratic needs.

This video series outlines Insight's commitment to our insurance clients.

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2024 Fixed Income Yields and Returns...and Beyond

Healthy Appetite for Risk in 2024

Risk appetite across the U.S. capital markets was strong in 2024. The U.S. economy was supported by low unemployment, resilient consumer spending, and optimism over the promise of large language models and AI. The Federal Reserve moved to a monetary easing stance, reducing both its policy rate and balance sheet. The final kick came from the sweeping election result, setting off expectations for a growth tailwind from easing regulations and tax cuts. Fixed income markets underwent their own transition. Treasury yields fluctuated over the period but ended the year both steeper and higher as shown in the chart below. Credit spreads narrowed significantly, leaving most sectors on the rich side of historical valuations.?

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Implications of Trump 2.0 on the private markets

January 20th brought the US a new presidential administration. Bolstered by his party’s control of congress, President Trump and his team have promised sweeping changes. As we evaluate the impact on investment strategies, we have two initial conclusions...

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Thematic Engagement: 2024 Scope 3 Emissions

Our 2024 thematic engagement focused on scope 3 greenhouse gas (GHG) emissions. This topic has risen in prominence in recent years because, in many sectors, scope 3 can account for the largest share of a company’s emissions.1 Additionally, with new reporting requirements being introduced in places such as the EU, Japan, Australia and California, scope 3 emissions will be an increasingly relevant topic going forward. Issuers face significant obstacles in reporting on their scope 3 emissions as well as reducing them. Through our thematic engagement, we sought to obtain insights into how issuers across both Fixed Income and Private Capital are tackling scope 3 emissions with respect to data availability, reporting, target setting and emissions reductions.

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