Direct Lending: A Tale of Two Markets - The Impact of Scale on Credit Risk

Putri Pascualy, Senior Managing Director and Client Portfolio Manager for private credit at Man Varagon, gives her thoughts on direct lending in today’s market – what are the challenges and opportunities insurers need to know?

Putri P Man Group
Putri Pascualy, Senior Managing Director, Man Varagon.

Andrew Putwain: Can you tell me about Man Varagon and its background?

Putri Pascualy: Varagon Capital Partners was founded in 2014 to build a best-in-class lending platform for US core middle market borrowers. The Firm’s founding partners include leading US insurance companies, whose mandates combine capital preservation with attractive risk-adjusted return. In 2023, Man Group acquired Varagon – as Man Varagon, we aim to be the bigger, better, faster and stronger version of our former self. With the reach and resources of a $175 billion global asset manager[1], our insurance clients benefit from access to our domain expertise in middle market lending combined with the scale of Man Group’s infrastructure, technology, and insurance expertise.

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