Key Takeaways
- • Reinsurance Group of America (NYSE: RGA) made a strategic investment in and multi-fund anchor commitment to FoxPath Capital Partners, a credit secondaries firm, under a long-term partnership announced October 15, 2025.
- • FoxPath was founded in 2023 by Tony Colarusso, Brian Laureano and Alexander Truss and focuses on private market liquidity solutions across LP-led and GP-led secondaries and structured solutions.
- • The firm will operate independently with discretion over investment and operational decisions and plans to expand its investment team while evaluating opportunities across North America and Europe.
- • Financial terms of the transaction, including the size of the investment and commitment, were not disclosed.
- • Piper Sandler & Co. advised FoxPath financially, with Akin serving as FoxPath's legal counsel and Goodwin Procter LLP advising RGA.
Summary
FoxPath Capital Partners, an independent alternative investment firm focused on credit secondaries, announced a long-term partnership with Reinsurance Group of America, Incorporated (NYSE: RGA), according to a Business Wire release dated October 15, 2025. Under the arrangement, RGA will make a strategic investment in FoxPath and provide a multi-fund anchor commitment to the firm. The release does not disclose additional transaction terms.
FoxPath was founded in 2023 by Tony Colarusso, Brian Laureano and Alexander Truss and is headquartered in New York. The firm provides private market liquidity solutions, drawing on credit underwriting expertise and institutional relationships to pursue value-oriented opportunities across the private credit landscape. Its strategy spans LP-led and GP-led secondaries as well as structured solutions. The company describes itself as purpose-built to address growing demand for liquidity across the private credit ecosystem.
Colarusso, Managing Partner of FoxPath, said the partnership would accelerate the firm's growth and expand its platform scale, and noted that secondaries are likely to play an increasingly important role in delivering liquidity and efficiency to the private credit market. Laureano, Chief Investment Officer, said the firm is positioned to provide tailored solutions to investors and managers across market cycles.
Leslie Barbi, Executive Vice President and Chief Investment Officer of RGA, said the investment continues RGA's history of backing distinctive asset management firms and that the company looks forward to supporting FoxPath's leadership team in its next phase of growth. RGA, founded in 1973, reported approximately $4.1 trillion of life reinsurance in force and total assets of $133.5 billion as of June 30, 2025.
FoxPath will operate independently, with discretion over investment and operational decisions. The firm expects to add to its existing investment team and evaluate opportunities in North America and Europe. Piper Sandler & Co. served as FoxPath's financial advisor, Akin as its legal advisor, and Goodwin Procter LLP as legal advisor to RGA.
FoxPath was founded in 2023 by Tony Colarusso, Brian Laureano and Alexander Truss and is headquartered in New York. The firm provides private market liquidity solutions, drawing on credit underwriting expertise and institutional relationships to pursue value-oriented opportunities across the private credit landscape. Its strategy spans LP-led and GP-led secondaries as well as structured solutions. The company describes itself as purpose-built to address growing demand for liquidity across the private credit ecosystem.
Colarusso, Managing Partner of FoxPath, said the partnership would accelerate the firm's growth and expand its platform scale, and noted that secondaries are likely to play an increasingly important role in delivering liquidity and efficiency to the private credit market. Laureano, Chief Investment Officer, said the firm is positioned to provide tailored solutions to investors and managers across market cycles.
Leslie Barbi, Executive Vice President and Chief Investment Officer of RGA, said the investment continues RGA's history of backing distinctive asset management firms and that the company looks forward to supporting FoxPath's leadership team in its next phase of growth. RGA, founded in 1973, reported approximately $4.1 trillion of life reinsurance in force and total assets of $133.5 billion as of June 30, 2025.
FoxPath will operate independently, with discretion over investment and operational decisions. The firm expects to add to its existing investment team and evaluate opportunities in North America and Europe. Piper Sandler & Co. served as FoxPath's financial advisor, Akin as its legal advisor, and Goodwin Procter LLP as legal advisor to RGA.
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