Investment Strategy
Sammons Financial Group is a financial services holding company based in West Des Moines, Iowa, and a member of the Sammons Enterprises family of companies. The group’s insurance subsidiaries, including North American Company for Life and Health Insurance and Midland National Life Insurance, provide life insurance, fixed and indexed annuities, and retirement products. The combined investment portfolio is approximately $40 billion.
The portfolio is primarily invested in fixed income, with investment-grade corporate bonds, structured products, and government securities forming the core. The annuity-heavy business mix means the portfolio must balance yield generation with liability matching across various product guarantees. Sammons Financial’s investment team manages the portfolio with a disciplined credit research process and a focus on capturing illiquidity premiums through private market allocations.
Sammons Financial allocates approximately 9% of its portfolio to alternatives, including private equity, private credit, real estate, and infrastructure. The alternatives program has grown meaningfully in recent years as the company has sought to enhance returns in a competitive annuity market. Private credit is a significant component, including direct lending, commercial real estate debt, and structured credit. Private equity exposure is built through diversified fund commitments.
How to Approach
GPs should approach Sammons Financial’s investment team in West Des Moines. The company’s membership in the broader Sammons Enterprises group provides a sophisticated investment perspective and access to resources beyond the insurance portfolio. Managers offering private credit, real estate debt, or income-oriented private equity strategies will find strong alignment. The investment team is accessible and evaluates new manager relationships on an ongoing basis, with commitment sizes typically in the $15-40 million range.
Frequently Asked Questions
What is Sammons Financial Group?
Sammons Financial Group is a financial services holding company that includes North American Company for Life and Health Insurance, Midland National Life Insurance, and Sammons Retirement Solutions. The combined investment portfolio is approximately $40 billion, managed to support the group's life insurance and annuity obligations.
How does Sammons Financial invest in alternatives?
Sammons Financial allocates approximately 9% of its portfolio to alternatives, including private equity, private credit, real estate, and infrastructure. The company has been growing its alternatives program to enhance yield and diversify beyond traditional fixed income. Sammons is part of the broader Sammons Enterprises, one of the largest privately held companies in the US.
How can fund managers engage with Sammons Financial?
GPs should approach Sammons Financial's investment team in West Des Moines, Iowa. The company evaluates manager relationships across private equity, private credit, and real estate. Its membership in the Sammons Enterprises family provides access to a sophisticated investment culture. Commitment sizes typically range from $15-40 million for fund investments.
