Underwriting attractive investments

Our team primarily focuses on sourcing fixed income investments that offer attractive returns and high book yields over an intermediate investment horizon. With a flexible mandate and an experienced team, opportunities are sought across the capital structure and across the ratings spectrum. Our current focus is on higher book yields, with an emphasis on deal structure and asset value to protect principal.

We use a multi-sourcing strategy to originate and underwrite attractive investments, pursuing one-off club deals with like-minded investors, syndicated offerings using our Street contacts and scalable lending relationships with selective strategic partners. We leverage Allstate’s broad and experienced team of in-house professionals, including sector specialists, risk management, and legal expertise.

We’re currently pursuing the below strategies.

Private Credit/Middle Market Loans

Allstate’s portfolio objective is to pursue intermediate term lending opportunities in fixed or floating rate private debt and middle market loans. While primarily focused on senior, senior secured and first-lien opportunities, we also selectively pursue attractive subordinated or second-lien investments. Transactions are not required to be rated. Underlying asset types may include corporate balance sheet lending, project finance and transportation equipment financing.

Our return goal is to realize higher absolute returns in comparison to owning a diversified portfolio of public high-yield bonds and broadly syndicated loans. Incremental return factors include illiquidity, structural complexity and subordination.

We anticipate the portfolio having 80% – 100% first-lien/senior secured and up to 20% second-lien/mezzanine.

Agent Lending

Allstate agency owners advise customers on how to protect what matters most to them. We’re proud to support our new and existing agencies by offering financing so they can achieve their business goals and grow their businesses.

Our agent lending group provides term loan financing to new and existing agents for the purchase of an agency. The term loan allows existing agents to combine current debt and office improvement costs into one loan.

The agency line of credit product supports working capital needs. The line of credit funds advances to an established agent’s existing bank account and takes payments electronically from the same account.

Forms and additional information on the loan program can be found here.