Aflac Global confirms acquisition of 40% stake in Tree Line Capital

Aflac Global Investments, the asset management subsidiary of Aflac Incorporated, announced that it has agreed to acquire a stake in San Francisco-based lower middle-market direct lender, Tree Line Capital Partners. The structure of the deal provides AGI with a 40% interest in the company upon closing. In addition, Aflac is making a multiyear commitment to allocate a portion of its annual investable cashflow to Tree Line. Tree Line was founded in 2014 by Managing Partners Tom Quimby and Jon Schroeder with initial backing by funds managed by Stone Point Capital. The firm currently manages $2.7B in assets and specializes in direct lending to the lower middle market. Tree Line has committed $5B in over 360 investments since inception. Tree Line will retain investment and operational autonomy with Quimby and Schroeder continuing to manage the business and serving on its board of directors.