CNO Financial Group has agreed to acquire a minority stake in Tennenbaum Capital Partners.

CNO Financial Group, a holding company, has agreed to acquire a minority stake in Tennenbaum Capital Partners, a Los Angeles-based investment management firm. Financial terms were not disclosed. “TCP is a compelling investment opportunity for CNO on multiple levels. They have a long and successful track record in credit-related strategies, which are highly suitable for our long duration lines of business. This relationship provides an opportunity to enhance our investment returns, benefit from access to leading-edge proprietary knowledge, and further diversify our general account investments. CNO’s ownership stake in TCP provides significant upside from expected growth at TCP and current non-life earnings to help utilize our tax loss carryforwards.” Ed Bonach, CNO CEO.