TPG - Tue, 08/06/2024 - 14:08

Insurance Perspectives: Alternatives In Focus

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The long-standing partnership between insurance and alternatives asset management has reached an inflection point—with new partnership constructs and innovative avenues of growth taking hold. For many, the deeper collaboration is only natural given insurance companies’ long-dated liabilities and alternative managers’ long-term investment outlook. As this important market dynamic continues to mature, we sit down with TPG CFO Jack Weingart and three seasoned insurance company CIOs—Amy Stepnowski of the Hartford Investment Management Corporation (HIMCO), Jean-Baptiste Tricot of AXA, and Eric Johnson of CNO—to get their perspectives on the current market outlook for insurance asset management, the portfolio benefits of alternatives, and the co-evolution of the insurance and alternatives industries. Jack Weingart contends that there’s long been strong logic for bringing together the capabilities of insurance and alternatives asset managers, but that any such partnership requires an equitable arrangement to succeed—a sentiment echoed by Stepnowski, Tricot, and Johnson. With the prospect for economic deceleration ahead, Stepnowski emphasizes the need to underwrite opportunities through the full economic cycle, Tricot the importance of leaning into robust businesses, and Johnson the likelihood of a steeper yield curve. Stepnowski and Tricot also underscore the centrality of climate risk and investing in the climate transition to their roles as insurance CIOs.

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Contacts


TPG

TPG is a leading global alternative asset manager with $239 billion in assets under management. Jim Coulter and David Bonderman, former colleagues at the Bass Family Office, created TPG in 1992 and opened the firm's first offices in San Francisco. Today, TPG is led by CEO Jon Winkelried, who became sole CEO in 2021 after serving as Co-CEO since 2015.

A Unique Perspective    
With our family office roots, entrepreneurial heritage, and West Coast base, TPG has developed a distinctive approach to alternative investments based on innovation-led growth, an affinity for disruption and technology, and a distinctive culture of openness and collaboration.

Innovation and Organic Growth   
Our principled focus on innovation has resulted in a disciplined, organic evolution of our business. Incubating, launching, and scaling new platforms and products organically—often early in the development of important industry trends—is embedded in our DNA. Over 30 years, we have developed an ecosystem of insight, engagement, and collaboration across our platforms and products, which currently include more than 300 active portfolio companies headquartered in more than 30 countries. With an extensive track record, a diversified set of investment strategies, and a strategic orientation towards areas of high growth, such as technology, healthcare, and impact, we are helping shape the future of alternative asset management.

Strategic Acquisition   
In 2023, TPG acquired Angelo Gordon, marking a significant expansion into credit investing and offering real estate capabilities that are complementary to our current strategies. This strategic transaction meaningfully expanded our investing capabilities and broadens our product offering, underscoring our continued focus on growing and scaling through diversification.   
 

Matt Heintz   
Co-Head of Insurance   
mheintz@tpg.com   
(312) 779-8957

www.tpg.com   
245 Park Avenue   
New York, NY 10167

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