Overview
CINV is the investment adviser to investment vehicles including mutual funds sponsored by The
Augustar Life Insurance Company (“ALIC”), separate accounts of the insurance company affiliates,
and private investment funds that are collateralized loan obligations (collectively, “CLOs”).
Currently, CINV has one registered investment company client, Augustar Variable Insurance
Products Fund, Inc. ("Augustar Fund"), and twelve insurance company clients. Additionally, this
Brochure generally describes CINV’s expectations regarding its business practices once its
anticipated CLO clients are operating. Unless otherwise noted or the context otherwise requires, all
information in this Brochure concerning the CLOs is prospective as if CINV has been engaged for
collateral management services for CLOs as of the date of this Brochure.
CINV has been in business since 1996. CINV is principally owned by Constellation Insurance, Inc.,
which itself is wholly owned by Constellation Insurance Holdings, Inc. The ultimate parents of
Constellation Insurance Holdings, Inc. are the Ontario Teachers’ Pension Plan Voting Trust,
trustees Greg Nielsen and Salman Hasnain, and Caisse de depot et placement du Quebec Voting
Trust,
trustees Philippe Charette and Martin Longchamps.
The Adviser provides investment advisory and collateral management services in accordance with
each client’s investment objectives, strategies, restrictions, and guidelines as set forth in the
governing documents of each client. Subject to any investment guidelines or restrictions applicable
to a particular client, the Adviser is permitted to invest in any security and any sector of the market
to carry out the overall objectives of the clients.
As of March 31, 2024, CINV has $26,055,059,088 in assets under management. CINV manages
$11,943,472,040 in the Augustar Fund and $14,111,587,048 in insurance company affiliate accounts.
Initially, the only investors in the CLOs will be CINV’s insurance company affiliates; as a result, any
assets CINV manages on behalf of the CLOs will be assets also included in the assets under
management attributable to the affiliated insurance company accounts. All assets are discretionary,
exercised in a manner consistent with the stated investment objectives of each portfolio of Augustar
Fund, the investment policies of the affiliated insurance companies, and the governing documents of
the CLOs, as applicable.