Federal investigators are taking a closer look at billionaire Mark Walter's financial empire, with criminal and regulatory inquiries now spanning Guggenheim Partners and two life insurance companies under his control, according to Bloomberg. Prosecutors are examining whether the companies properly disclosed private credit investments tied to affiliated businesses within Walter's network. Delaware Life subsequently revised its disclosures, revealing roughly $16 billion in additional affiliated private credit investments. The disclosure led S&P Global Ratings to revise Delaware Life's outlook from stable to negative, while leaving its A- financial strength rating unchanged. Group 1001, the parent of Delaware Life and Clear Spring, also said: "Our capital position and liquidity remain strong, and our financial strength ratings are unchanged."