Understanding Collateral Lending in PE-Backed Life Insurance: Dodgers' Loan Insight

A $185 million loan secured by an interest in the Los Angeles Dodgers sits inside a Kansas life insurer's general account.

The lender is Security Benefit. Its owner, Todd Boehly's Eldridge Industries, has its own stake in the Dodgers.

The Financial Times reported the details about how one carrier holds nearly half the U.S. life insurance industry's collateral loans, almost all of them backed by assets affiliated with the same ownership group.

And while the loan might drive clicks and eyeballs, the real story is about the structure being utilized here.

New analysis on our Substack, Our View of Things, about what affiliated collateral lending actually represents inside the modern PE-backed life insurance balance sheet, and why the rule that would address it just got delayed. Link below.

https://open.substack.com/pub/lisgroup/p/the-dodgers-are-on-security-benefits

#insurance #collateral lending #PE firms #financial analysis #Dodgers