Hudson Structured Capital Management, the insurance, reinsurance and transportation linked investment firm set up by ex-Goldman Sachs structured products leader Michael Millette, has closed on and secured its $250m anchor investment from Blackstone, Artemis has learned.
Hudson Structured Capital Management launched in the second-half of 2015 as an investment management firm operating one fund offering insurance and reinsurance linked investments, and another fund offering transportation finance investments, with Millette a founding managing partner.
Since then Hudson Structured has been in the market with a private offering, seeking to raise launch funds for both of its fund. On the insurance linked investing side, the firm has now hired a team of experienced insurance-linked securities (ILS) and reinsurance executives to underwrite for and manage the re/insurance linked fund offering.
Part of the capital raise involved an anchor investment arrangement with one of the world’s leading investment groups, Blackstone, an asset manager with $336 billion under management at the end of 2015.
The anchor investment has now been secured, Artemis can reveal, as a source explained to us that Hudson Structured closed on the investment late last week.
We understand that this injection of capital from Blackstone is for around the expected $250m mark and will be allocated relatively equally across the Hudson Structured re/insurance and transportation investment funds.
The work now begins to deploy capital, we understand, and Hudson Structured is expected to target being fully invested as soon as it can. The timing works well for the firm’s insurance and reinsurance linked fund, with the key renewal period of June/July just around the corner....MORE