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The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams.
Past performance does not guarantee future results.
*Includes direct lending, credit special situations, mezzanine loans, bridge financing, real estate debt, infrastructure debt, venture debt and general debt
As of June 30, 2022
Source: Global Private Debt Report: 1H 2022 (PitchBook, September 27, 2022)
Past performance does not guarantee future results.
Through October 21, 2022
Source: Bloomberg and AllianceBernstein (AB)
Past performance and current analysis do not guarantee future results.
Through October 20, 2022
Source: Bloomberg Index Services and AB
Past performance and current analysis do not guarantee future results.
Through September 16, 2022
Source: AB
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams.
Richard Roberts is a Vice President and Head of EMEA and Asia Insurance Business Development. Working closely with the Insurance Portfolio Management team and AB’s client advisors, he is responsible for partnering with insurers across the EMEA and Asia regions to develop solutions that meet the unique requirements of this industry, be it yield, diversification, solvency efficiency or targeting sustainability objectives. Roberts also supports the development of insurance thought leadership for direct consumption by insurers across a broad variety of topics. Prior to joining AB in 2022, he was a global insurance investment director for abrdn, where he was responsible for supporting the development of insurance investment solutions for clients across the EMEA and Asia regions. Before this, Roberts spent 13 years with Zurich Insurance in a variety of insurance investment roles, culminating in the role head of balance sheet investments for their UK business, where he was responsible for investment strategy across both Life and Property & Casualty general accounts. He is a chartered accountant and a CFA charterholder. Location: London
Dmytro Mukhin is a North America Senior Insurance Strategist in the Global Business Development Group. In this role, he partners with insurance companies and AB's investment and insurance accounting teams to evaluate strategic asset allocations, peer comparisons, risk/stress scenario tests and capital efficiency to help insurance clients think about optimal portfolio structure and implementation. Prior to joining AB in 2022, Mukhin was a member of the Global Insurance Solutions Strategy & Analytics group at J.P. Morgan Asset Management (JPMAM) for seven years. Before JPMAM, he was head of Annuity ALM at Voya Financial. Mukhin's career track also includes two other asset management companies, both in Boston: Wellington Management, where he was a vice president and fixed-income quantitative analyst, and Standish Mellon Asset Management, where he focused on investment strategy and risk analysis for insurers and other liability-conscious clients. Prior to that, Mukhin was a senior actuarial associate at MetLife. He started his professional career at Conseco Services. Mukhin holds a PhD in mathematical economics from Purdue University. He is a Fellow of the Society of Actuaries and a CFA charterholder. Location: New York
Gary Zhu is a Senior Vice President and Deputy Chief Investment Officer of Insurance, where he is responsible for portfolio performance, strategic positioning and customized investment solutions for AB’s Insurance platform. Zhu joined AB in 2020 as the global head of Multi-Sector Insurance on the Fixed Income team, primarily focusing on developing and implementing multi-sector income portfolio strategies. In 2021, he was named director of Insurance Portfolio Management, where he led AB Fixed Income’s insurance business. Under Zhu’s leadership, the Multi-Sector Insurance team was named Investment Team of the Year in 2022 and 2023 by Insurance Asset Risk. He is also a portfolio manager in the US Investment Grade Credit and Sustainable Thematic Credit teams. Prior to AB, Zhu was a senior publishing research analyst and the head of cross-sector research at Wells Fargo Securities. He ranked first for cross-asset strategy in the 2019 Institutional Investor survey and earned the title of Best Cross-Asset Analyst in Global Fixed Income Strategy. Before joining Wells Fargo, Zhu was a senior securitized assets trader and portfolio manager at Genworth, where he managed ~$10 billion of fixed-income investments. Prior to his portfolio-management role, Zhu helped manage Genworth’s $70 billion general account, with a focus on US and European banking exposures during the 2008 financial crisis, and held various roles across the company. He holds a BS (summa cum laude) in finance and economics from Virginia Commonwealth University and an executive MBA (with Dean’s Honors) from Columbia Business School. Zhu is a CFA charterholder and holds the Fellow, Life Management Institute designation. Location: New York
The effects of mega-forces are turning up in recent policy and geopolitical developments.
Robertas Stancikas, Inigo Fraser-Jenkins | 27 March 2025Though geopolitics has come to the fore, insurers are addressing a wide range of other issues.
Bob Sharma, Gerry Anderson | 19 March 2025The unwinding of “Trump trades,” a spike in volatility and the outperformance of European versus US equities have sparked debate about whether this is a tactical shift or the beginnings of a longer bearish trajectory for markets.
Inigo Fraser-Jenkins, Alla Harmsworth | 17 March 2025This is a marketing communication. This information is provided by AllianceBernstein Schweiz AG, Zürich, a company registered in Switzerland under company number CHE-306.220.501. AllianceBernstein Schweiz AG is a financial service provider within the meaning of the Financial Services Act (FinSA) which is not subject to any prudential supervision in Switzerland. Further information on the company, its services and products, in accordance with Art. 8 FinSA can be found on the Important Disclosures page at www.alliancebernstein.com. It is provided for informational purposes only and does not constitute investment advice or an invitation to purchase any security or other investment nor is it a recommendation to subscribe to a financial service. The views and opinions expressed are based on our internal forecasts and should not be relied upon as an indication of future market performance. The value of an investment can go down as well as up and investors may not get back the full amount they invested. Capital is at risk. Past performance does not guarantee future results.
This information is directed at Qualified Investors only and is not intended for public use.