Aflac Global Investments to Buy Stake in Direct Lender Tree Line

Aflac Global Investments (AGI), the asset management subsidiary of Aflac Incorporated, has agreed to acquire a 40% stake in private credit firm Tree Line Capital Partners. In addition, Aflac is making a multiyear commitment to allocate a portion of its annual investable cashflow to Tree Line.

Tree Line was founded in 2014 by managing partners Tom Quimby and Jon Schroeder with initial backing by funds managed by Stone Point Capital. The firm currently manages $2.7 billion in assets and specializes in direct lending to the lower middle market.

The firm has committed $5 billion in over 360 investments since inception. Tree Line will retain investment and operational autonomy with Quimby and Schroeder continuing to manage the business and serving on its board of directors.

“Tree Line’s disciplined approach to credit underwriting aligns strongly with our core investment principles,” Aflac Incorporated EVP, global CIO Bradley E. Dyslin said. “We are pleased to partner with them and gain their expertise in middle market direct lending, which remains a strategically important asset class for our $100 billion investment portfolio.”