In this episode of the InsuranceAUM.com Podcast, host Stewart Foley is joined by Matt Addesa, Private Market Specialist at DWS, to explore the world of real assets and private debt. Matt delves into the current landscape of real estate and infrastructure debt, explaining where these asset classes fit within the broader private credit space. He highlights the growing opportunities in alternative real estate financing due to stress in regional banks and provides insight into how institutional investors can capitalize on these shifts. Matt also touches on the performance history and fundamentals of real asset debt, offering a detailed breakdown of the relative value opportunities across different sectors.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley sits down with Dean Dulchinos, Head of Debt Portfolio Management, and Justin Pinckney, Head of Private Debt at AEW, to discuss the compelling opportunities in the commercial real estate (CRE) debt space. Dean and Justin provide an in-depth analysis of the current market environment, highlighting the impact of macroeconomic headwinds and the secular shift in office demand. They explain why the CRE debt market is leading the cycle in terms of value adjustments and how private capital can capitalize on the banks pulling out of CRE lending. The conversation touches on the structural advantages of CRE debt, including better collateralization, lower loan-to-value ratios, and attractive yield premiums in a high-rate environment.

In this compelling episode, Stewart Foley interviews Juliette Kayyem, a senior national security analyst for CNN and a Pulitzer Prize finalist. Juliette shares her unique insights on two of the most pressing issues of our time: the Israeli-Hamas conflict and the impact of climate change on the insurance industry. Drawing on her experience in government, academia, and media, she explains the broader "threat environment," shedding light on Israel’s intelligence and response failures, the evolving geopolitical risks, and the delicate balance required to prevent escalation.

In this episode of the InsuranceAUM.com podcast, Stewart Foley sits down with Paul Massaro, Head of Global High Yield Franchise at T. Rowe Price, to discuss the leveraged credit market and how the current economic landscape impacts high-yield bonds. Paul offers a deep dive into the structure and evolution of the $1.4 trillion high-yield bond market, emphasizing its growing quality and resilience. They discuss the surprising outperformance of leveraged credit in 2023, despite ongoing macroeconomic challenges, and how high-yield bonds offer unique diversification benefits to insurance portfolios.

In this episode of the InsuranceAUM.com podcast, Stewart Foley speaks with Pramol Dhawan, Managing Director and Head of the EM Portfolio Management Team at PIMCO, about the opportunities and considerations for insurance companies investing in emerging markets. Pramol breaks down the key reasons why EM offers compelling value to insurance portfolios, including diversification, yield enhancement, and access to high-quality, long-duration assets. He highlights the evolving definition of EM, debunks outdated perceptions, and offers insights into how geopolitical and political risks are priced and managed.

In this episode, we dive deep into the securitized markets with Dmitri Rabin, Head of Securitized at Jennison Associates. Dmitri provides an insightful overview of how the agency MBS market has performed year to date following a tough 2022, discussing how rising interest rates, extension risk, and volatility have impacted the market. He highlights the current opportunities within the mortgage market, where valuations and spreads offer potential for investors—particularly in the extended, lower-coupon bonds. Dmitri also shares his perspective on key sectors like ABS and why Jennison favors high-quality, liquid securities that still offer attractive spreads. His analysis is grounded in long-term investment principles that fit well with insurance companies' needs for both yield and liquidity.

In this episode, Steve Boothe, Head of Global Investment Grade at T. Rowe Price, joins the podcast to share his insights on the current state of the bond market. Steve makes a bold statement—there’s no such thing as passive bond investing—and he explains why that’s the case, delving into how market structure, liquidity dynamics, and the shifting ownership landscape are transforming fixed-income markets. He also explores why recent flows into credit and equities have remained robust despite higher volatility in the treasury market, and how issuers’ ability to lock in long-term financing during lower-rate periods is shaping the supply side of corporate debt.

In this episode, we dive deep into the energy transition with Stu Porter, Founder of Denham Capital, a leading energy and resource-focused private equity firm. Stu shares his remarkable journey, starting from his days on the trading floor at the Chicago Board of Trade, through his tenure at the Harvard Endowment, to building Denham Capital into a global investment powerhouse. He offers unique insights into the evolving energy landscape, discussing the importance of finding investment opportunities that balance sustainability with reliability and cost-efficiency.

In this special executive spotlight episode of the InsuranceAUM.com Podcast, Stewart Foley is joined by Randy Brown, Chief Investment Officer for Sun Life and Head of Insurance Asset Management at SLC Management. Randy shares his extensive industry experience, beginning as a mortgage-backed securities trader at Solomon Brothers in the 1980s, evolving into his current leadership roles. He discusses the complex nature of insurance asset management, highlighting the multi-dimensional challenges that make it a dynamic space, such as managing long-term liabilities, regulatory guidelines, and portfolio positioning in volatile market environments.

In this episode, we explore the rapidly evolving world of private equity secondaries with Adam Freda, Managing Director at 50 South Capital. Adam shares insights on how the secondary market has grown from a niche sector to a $100 billion-plus market, offering critical liquidity options for private equity investors. He explains how the secondary market provides a unique opportunity for both buyers and sellers, allowing investors to adjust their portfolios, avoid the J-curve, and achieve attractive returns through discounted deals.