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HSCM raises over $175m for brand spanking new life insurance-focused continuation fund

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Hudson Structured Capital Administration Ltd. (HSCM), the reinsurance, insurtech, insurance-linked securities (ILS) and transportation targeted funding supervisor, has raised greater than $175 million from funding agency StepStone Group and current buyers for the launch of HS Mohawk Fund I LP, its new life insurance-focused continuation fund.

hudson-structured-capital-management-logoIn response to HSCM, the launch of this new fund is a key milestone in its ongoing funding into asset-intensive life insurance coverage.

HS Mohawk Fund I LP was established to amass pursuits in 5 asset-intensive life insurance coverage investments held by the agency’s multi-sector re/insurance coverage fund, HSCM Bermuda Fund Ltd., with the intention to assist the investments’ continued progress whereas offering current Bermuda Fund buyers with an possibility for near-term liquidity.

HSCM has highlighted its diversified sourcing capabilities, stating that it has change into a “companion of selection” for structuring bespoke transactions with sponsors.

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Following the profitable closing of the continuation fund, HSCM has appointed Gokul Sudarsana as Chief Funding Officer for Life Insurance coverage, along with his Chief Actuary function.

“We’re delighted to announce the profitable closing of the Fund and proceed to be a trusted capital companion to our portfolio firms and drive worth creation for our buyers.

“This transaction marks an thrilling milestone in our rising life insurance coverage franchise, and we look ahead to our continued collaboration and partnership with StepStone,” stated Sudarsana.

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The $175 million plus of capital commitments the fund launches with was led by StepStone. Commenting on the transaction, Accomplice on the funding agency, Geoff Dolan, stated, “This transaction serves as a testomony to our objective of partnering with best-in-class sponsors to supply capital options for his or her highest high quality belongings and liquidity choices for current buyers. We’re excited to construct on our partnership with HSCM and assist the agency’s continued success within the asset-intensive life insurance coverage area.”

On this transaction, PJT Companions served because the unique monetary advisor to HSCM, and Proskauer Rose LLP served as HSCM’s authorized counsel. Goodwin Proctor LLP served as authorized counsel to StepStone on the transaction.

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