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Stock impact report

Calgary lender taps insurance capital to chase Canadian private credit premiums [Wealth Professional (Canada)]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Borrowers in Canada's private credit market can pay 100 to 200 basis points more than comparable US deals, and a Calgary manager now has up to $2.5bn in fresh insurance-backed capital to target that spread, according to Bloomberg SAF Group has set up a reinsurance vehicle that gives it control of about $2bn to $2.5bn, with the option to expand, funded by roughly $250m in regulatory capital. The Calgary-based firm, led by Ryan Dunfield, created the structure with American Life & Security Corp., a Nebraska life annuity provider, and the private capital solutions unit of GQG Partners, a US$172bn global investment manager. “It gives you the closest thing to permanent capital,” Dunfield said in an interview. According to Bloomberg , SAF will invest the assets in partnership with Antarctica Investment Advisors, a firm associated with American Life. The capital will support loans ranging from $15m to $250m to borrowers that rarely have access to flexible financing, including everg Show less Read more
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