Debevoise & Plimpton LLP is advising Aflac Global Investments (Aflac) in its strategic partnership with Varagon Capital Partners (Varagon), which includes a multi-year investment commitment of up to $3.0 billion to Varagon, a direct lender to middle market companies, for Varagon to invest in middle market loans. For more information, please see the company’s press release.

Aflac Global Investments refers to Aflac Asset Management LLC and Aflac Asset Management Japan Ltd., which are the asset management subsidiaries of Aflac Incorporated. Aflac Global Investments, which managed more than $120 billion in general account assets at the end of September 2019, is responsible for managing the invested assets of Aflac Incorporated’s insurance subsidiaries in Japan and the U.S. Varagon, which has made over $14.5 billion of financing commitments to over 180 companies as of December 31, 2019, manages funds and accounts on behalf of institutional investors that seek exposure to high-quality, directly-originated middle market loans.

The Debevoise team is led by M&A partner William Regner and includes M&A associates Spencer Gilbert and Thomas Lopez, investment management partner Kenneth Berman and associate Kevin Shin and tax partner Rafael Kariyev and associate Robert Nelson-Sullivan.