KKR: Life and Annuity Funds Steered into Natural Gas Project Are Latest in Trend of Affiliated Private Credit Deals

Published on Feb 02, 2026

The private equity and asset management firms that have taken over much of the life and annuity (L/A) sector are loading the portfolios of policyholders and annuitants with private credit investments, a trend that has drawn growing concern from regulators, policymakers, and industry watchers for posing risks to the broader financial system.

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