Reinsurance Group of America, the global life reinsurer, has reached an agreement that will see it co-invest in first lien senior secured loans alongside Golub Capital BDC, a specialist investor in this type of debt.
The agreement is a result of RGA Reinsurance Company taking over the interests of United Insurance Company of America in a specific fund called Senior Loan Fund.
This fund is a joint venture through which Golub Capital BDC and its partner co-invest in first lien senior secured loans through an unconsolidated Delaware limited liability company.
"We are excited about both our new partnership with RGA and the prospects for SLF going forward," said David Golub, chief executive of Golub Capital BDC. "We want to thank United Insurance for their involvement with SLF and wish them well."
Brian Butchko, vice president and director of US Portfolio Management at RGA, added: "We are very pleased to be partnering with Golub Capital, a market leader in middle market lending with an outstanding 20-year track record."