
Voya Investment Management
230 Park Avenue
New York, NY 10169
https://institutional.voya.com/

Michael Alvarez, CFA
Managing Director, Head of Insurance Solutions
Michael.Alvarez@voya.com
770-690-6709
Voya Investment Management
Voya Investment Management is a leading authority in insurance asset management, bringing the capabilities of a large institutional investment manager with proprietary insurance balance sheets to small and medium sized insurance companies and key strategic partnerships. As the manager of a large and complex proprietary life insurance balance sheet, we extend every resource committed to that undertaking to our third-party clients. Our deep insurance resources and expertise, investment process and infrastructure built especially for regulated balance sheets, and our high touch client engagement model are all key differentiators versus our competitors.
Voya Investment Management is the asset management business of Voya Financial (NYSE: VOYA), overseeing $333 billion in assets for institutions, financial intermediaries and individual investors as of 06/30/24. Voya Investment Management assets are calculated on a market value basis and include proprietary insurance general account assets of $31 billion.
Navigating Private Credit and Alts: Insights with Chris Lyons of Voya IM
Chris Lyons is the Head of Private Fixed Income and Alternatives at Voya Investment Management
Power-Hungry AI is a Game Changer for Utilities
Artificial intelligence (AI) has now touched nearly every aspect of life. And, as it turns out, powering AI applications requires a lot of energy. U.S. data centers currently consume as much electricity as all households in New York and Florida combined. With the rapid adoption of AI and development of AI-powered data, this consumption is projected to nearly triple by 2035, matching the combined usage of New York, Florida, Texas, and California households!
CIO Roundtable: Beyond the Magnificent Seven—AI’s Ripple Effect
The race for superintelligence has triggered a spending boom on graphics chips, data centers, power supply and talent. Our panel discusses what it means for investors.
Voya Private Credit Energy & Infrastructure Quarterly Spring 2024: Power Generation’s Wake-Up Call
Voya’s energy experts take a deep dive into the re-awakening of U.S. electricity demand, and what it means for generation, transmission, and grid stability.
Private Credit Insights: The Power Issue
The most interesting angle on AI’s growth for credit investors may well be in energy transition. Here’s why—and how to play it.
Building Flexible Multi-sector Portfolios
Jeffrey Hobbs is the Head of Insurance Portfolio Management at Voya Investment Management.
Mind the (Asset-Liability) Gap… Building Flexible Multi-Sector Portfolios
The sharp sell-off in interest rates since the start of the hiking cycle has created attractive investment opportunities for insurance investors, but liquidity strains have been common across the industry.
Private Credit Insights: The Collateral Crunch (and How to Avoid It)
The average middle market fund has less than 26% of its loans in high-collateral deals. Here’s what to do about it.
CMLs in 2024: A repriced market with attractive opportunities?
Greg Michaud is the Head of Real Estate Finance at Voya.
Capital Market Assumptions 2024
Each year, the Voya Multi-Asset Strategies and Solutions team formulates capital market forecasts for the coming decade. This exercise is an opportunity for us to step back from the day-to-day noise within the markets and consider longer-term trends in economic and financial factors that are likely to drive asset class return and risk. We rely on these assumptions to set our strategic asset allocations for our multi-asset portfolios.
The Road Not Taken by Insurance Investors
Where Frost took the road less traveled, we insurance PMs can take two (or more!) roads at once as we forge a path that delivers on our investment objectives.
Private Credit Insights: Every Problem Is an Opportunity in Disguise
Bank lending and deal flow on the decline, economic stress on the rise. It’s a surprisingly good time for private credit.
Energy & Infrastructure Quarterly: Pendulum of Perception
We retrace boom-and-bust periods and chronicle improvements in the credit quality of North American energy companies following the pandemic.
Interest-Only Securities Make a Strong Comeback
Interest-only securities offer attractive, high-single-digit unlevered yields to the market’s base-case prepayment expectation and stand to benefit from significant spread tightening as demand for the asset class increases amid limited supply.
Five Things to Watch in Securitized Credit
The forecast for securitized credit has turned notably brighter in recent months, even as the dark cloud of offices continues to cast a long shadow.
Using FHLBs for Insurance Portfolio Management to Drive Risk-Adjusted Returns
Adding durable, low-cost external leverage to lower-volatility assets via the FHLB system can be an attractive way to enhance risk-adjusted return potential versus owning higher-volatility assets with more embedded leverage directly on insurance company balance sheets.
Insurance themes: A rolling stone gathers no moss
Higher investible yields and elevated volatility have combined to create meaningful opportunities for insurance companies with the willingness and ability to capitalize.
NAIC 1 bonds with 6%+ yields … fear the risk or embrace the opportunity?
SASBs in the industrial, multi-family and life sciences spaces are compelling. Higher-yielding office and retail CMBS aren’t worth the reach … yet.

















