Retirement plan solutions

Evolution in digital infrastructure requires a new investment approach

Market activity volumes in IG private credit bounced back in Q2 2026, recovering from concerns over global security, energy supply and other macro issues. Additionally, the expansion in scope, volume and diversity in the digital infrastructure universe could necessitate a rethinking of investment strategies in this space.

Explore how insurers are using private real estate lending to seek yield, diversification and capital efficiency amid shifting fixed-income markets. In this AM Best webinar, sponsored by SLC Management and BGO, speakers discuss portfolio fit, the evolving risk and regulatory landscape and where opportunities may be emerging.

Looking deeper into liquidity, AI factors in the market

Issuance momentum carried into the beginning of the year, with notable year-over-year volume increases for the quarter. Meanwhile, continued headline focus on specific corners of stress in private credit, plus secular issues related to AI, have created conditions in which deeper analysis of this investment universe could generate opportunities.

Robust issuance continued into Q3, reflecting solid supply–demand dynamics. As the IG private credit market grows, however, we take a closer look at the diverse array of origination channels in this investment universe, discussing the potential benefits, drawbacks and possible misconceptions surrounding these sources of deal flow. 

Our recent insurance roundtable in New York brought together industry leaders to discuss the forces influencing insurers’ portfolios today – including developments in private credit markets, the growing role of data and AI and the importance of steady, fundamentals‑based judgment in a complex environment. Explore the full summary. 

Commercial real estate ("CRE") debt — and in particular, value-add lending — is an asset class that is historically underutilized by insurance companies. But there are compelling reasons for them to reconsider.

Welcome to SLC Management’s investment outlook for 2026. In this report, our investment teams and solutions providers discuss public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

Issuance activity overcame a slower start to the quarter to end at volumes exceeding Q1. Also, the continued uncertainties over global trade, inflation and fiscal policies highlight the potential benefits of IG private credit against this backdrop.

Credit markets reported considerable year-over-year deal activity, with investor demand a principal driver. Meanwhile, continued development, expansion and innovation in the asset-backed finance (ABF) space requires a renewed perspective into the possible benefits and risks of these investments.

Tuning out the white noise in private credit

Placement volumes remained healthy in Q4 2025, powered by strong investor demand. This occurred despite an uncertain macro environment, and recent, highly public defaults in specific corners of the private credit universe merit a more comprehensive look at these asset classes. 

For our 2025 SLC Management Insurance Asset Management Survey, we conducted quantitative and qualitative interviews with 250 insurer decisionmakers on their investment positioning and the results are in.

In a year already marked by tariff uncertainty, market volatility and macro-level changes, what’s next for the rest of 2025? In our newest podcast series, Checking In, Looking Ahead, our investment team provides insights and outlook on what’s to come.

Nicolas Delisle, Managing Director and Portfolio Manager of Private Fixed Income, discusses how the evolution of fund finance structures offers opportunities for Canadian investors at the Canadian Investment Review's Global Investment Conference.

Strong October issuance led to a strong fourth quarter of 2024. Meanwhile, business development companies (BDCs) continue to grow as potential opportunities for IG private credit investors.

Welcome to SLC Management’s investment outlook for 2025. In this report, our investment teams and solutions providers discuss public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

It’s that time of the year, where everyone’s social media is filled with “Spotify Wrapped,” covering the most listened to artists and tracks of the calendar year. This prompted us to think: why not end 2024 by looking back on the trends, events, and milestones that defined the insurance industry? Check out 2024 Insurance Wrapped.

Amid continuing pressures on social infrastructure, SLC Management discusses investor opportunities to enhance returns, while advancing public interest initiatives.

Check out these insights from Louis Pelosi, Managing Director, Client Solutions at SLC Management. Louis was a special guest on the Insurance AUM podcast, where he discussed the unique needs of clients in the insurance asset management business, managing asset allocations against liabilities and more.

Fund finance, which includes strategies such as net asset value (NAV) lending, has become a fast growing tool employed by asset managers seeking financing and for institutional investors seeking potential risk–return benefits. Gain further insights from our investment team: 

LDI programs often face a tradeoff between hedging liabilities and enhancing diversification, among other competing goals. Our investment team discusses how IG private credit can help solve the conundrum.

Our insurance specialists discuss how a multitude of risk components can affect an insurer’s capital structure, returns and ability to generate shareholder value. Read more on our latest insights.

In this issue, we discuss cooling inflation, price softness across several CPI categories and alternatives to RRBs in inflation hedging.

With investors increasingly looking into the potential benefits of NAV lending, SLC Management takes a closer look at this asset class.

Welcome to SLC Management’s investment outlook for the mid-year point of 2024. Learn more about what our investment teams and solutions providers expect for public and private fixed income, real estate, infrastructure, insurers and retirement plans.

Welcome to SLC Management’s investment outlook for the mid-year point of 2024. Learn more about what our investment teams and solutions providers expect for public and private fixed income, real estate, infrastructure, insurers and retirement plans.

Market statistics for the private placement market sourced from Private Placement Monitor, a standard proxy for the IG private credit market.

Robust volumes, greater demand from a growing investor base and tightening spreads characterized private credit during the first quarter. New investors coming into the market has also led to increased market capacity and larger deal sizes. Meanwhile, fund finance has emerged as a growing, evolving sector for institutional investors looking for potential diversification, investment premiums and risk managed performance

At the beginning of 2024 there was little solid consensus on the direction of interest rates. Expectations for federal bank actions ranged from rate decreases for earlier in the year to rates remaining high until at least 2025. Such uncertainty can make things difficult for fixed income investors, as in many cases bond yields are highly correlated to interest rates.

Investment grade (IG) private credit volume in Q4 2023 was the strongest for the year at US$28.6 billion, bouncing back from US$14.1 billion in Q3 2023, the lowest quarterly volume of the year. While we won’t know final results for a few months, preliminary 2023 volume of US$90.7 billion fell short of US$92.3 billion in 2022. Issuers that had something to get done came to market in the last quarter and investors responded positively. This was in contrast to much of 2023 when issuers were put off by high rates or market uncertainty and investors were either less liquid or more cautious immediately after the failure of Silicon Valley Bank.

Welcome to SLC Management’s investment outlook for 2024. In this report, our investment teams and solutions providers discuss public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

Pensions and Investments recently published a commentary from Tim Boomer, Senior Managing Director, Head of Client Solutions at SLC Management, on how the Special Financial Assistance Program of the American Rescue Plan Act could benefit underfunded multiemployer Taft-Hartley.

A volatile economic and market environment has led to increased interest among institutional investors for more diversified credit exposure. One segment of the credit market that’s often overlooked is the narrowly syndicated credit (NSC) space, which can offer the potential for higher yields with reduced volatility characteristics.

In a slow quarter for the investment grade (IG) private credit market, robust industrial and utility sector issuance helped support volume amid decreased financial issuance. We are seeing a possible turnaround in decreasing IG private credit demand to date as markets begin to adopt “higher for longer” rate expectations. Meanwhile, we are taking a closer look at infrastructure debt investments amid increased focus on the diversification, risk management and other potential benefits of the asset class.

Issuance of investment grade private credit (IG private credit) proved resilient in Q2 2023, with the market providing some respite during uncertainty in the public debt space. H1 2023 issuance, however, is still behind that of the same period last year, largely due to a decrease in volume in financials. Amid other promising sectors, we see potential value in asset-backed securities (ABS), in particular senior IG ABS. From a volume and return perspective, 2023 could be an especially strong year for ABS investors, in our view.  

Our affiliate Crescent Capital Group’s John Fekete and Chris Wright recently sat down with Private Debt Investor to discuss the evolution of private debt and the future of credit.

We are pleased to present SLC Management’s investment outlook for 2023. This report reflects the diverse viewpoints of our investment teams and solutions providers, with analyses of public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

Welcome to SLC Management’s investment outlook for mid-year 2023. In this report, our investment teams and solutions providers share their insights, analyses and perspectives on public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

Welcome to SLC Management’s investment outlook for mid-year 2023. In this report, our investment teams and solutions providers share their insights, analyses and perspectives on public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

Investment grade private credit has been a major investment theme for U.S. insurers of all types. The asset class can offer additional yield, diversification and risk charges similar to that of a public corporate bond.

Our PM’s discuss the prospects of inflation and potential effects on U.S. markets.

Book yield has continued to erode for many P&C insurers. They are desperately looking for new capital efficient investment strategies to help alleviate future income concerns against the backdrop of a “lower for longer” environment.

President-elect Joseph R. Biden is poised to take office and contend with a number of economic challenges. What does the U.S. election outcome mean for the domestic and international market outlook?

Yield and income remain critical components for U.S. insurers, and a reconsideration of their core fixed income portfolio should include serious conversations about investment grade private credit. In short, we believe it’s where the yield is.

The persistently low rate environment has challenged all insurers’ ability to meet their return and income objectives while balancing the risk they take within their investment portfolios.

Markets are challenging. But there are solutions and opportunities that can help insurance companies manage asset risk and advance long-term investment objectives.

President Donald Trump’s chances of keeping his job were a lot higher before a global health crisis reached the U.S. With COVID-19 battering the economy, public sentiment is rapidly shifting towards Democrat and Former Vice President Joe Biden – a pragmatic moderate who now holds a double-digit lead in national polls.

Investment grade private credit is a capital efficient asset class that can offer investors the potential for excess returns, lower downgrades and defaults and provide a natural hedge for long-term liabilities.

We remain focused on helping insurers effectively manage risk, stay abreast of new developments and take advantage of opportunities arising from market dislocation and government programs.

Markets are stressed and many investors are, too. The good news is our team believes that extreme volatility can also present opportunities.

For many plan sponsors, March proved to be a perfect storm of negative conditions as equity markets fell dramatically and interest rates hit record lows. While wider credit spreads provided some relief in terms of higher discount rates, many liability hedging portfolios that hold a broad spectrum of corporate bonds would have underperformed the higher quality liabilities.

February 2020 saw the spread of the coronavirus enter a new phase. South Korean and Italian hot spots emerged and countries around the world went on high alert. Almost 50 countries have now reported at least one infection within their borders.

As investors look to diversify their fixed income strategies, an integrated and holistic approach can make a big difference.

When Sun Life decided in 2013 to start a third-party asset management company – SLC Management – they were confident about having a strong base in Canada, but eager to grow their presence internationally. In just five years, SLC Management has transformed into a bonafide global asset manager with a significant presence in the U.S., Asia and Europe.

As we settle back in following a summer of volatility, the markets have struck a note of cautious optimism. This uptick promises to be more than a fleeting relief rally. There are nascent indications that the recovery in equity prices and Treasury yields are justified by fundamentals, and that investors have been too slow to adjust to a more positive narrative.