Investment manager Hudson Structured Capital Management has closed HS Mohawk Fund I LP,u00a0 a life-insurance focused continuation fund. The fund closed with $175mn of commitments, led by StepStone Group.
In connection with the closing, HSCM has also named Gokul Sudarsana its Chief Investment Officer for Life Insurance, in addition to his role as Chief Actuary.
u201cWe are delighted to announce the successful closing of the fund and continue to be a trusted capital partner to our portfolio companies and drive value creation for our investors,u201d said Sudarsana.
u201cThis transaction marks an exciting milestone in our growing life insurance franchise, and we look forward to our continued collaboration and partnership with StepStone.u201d
u201cThis transaction serves as a testament to our goal of partnering with best-in-class sponsors to provide capital solutions for their highest quality assets and liquidity options for existing investors. We are excited to build on our partnership with HSCM and support the firmu2019s continued success in the asset-intensive life insurance space,u201d added Geoff Dolan, Partner at StepStone.
The fund was established to acquire interests in five asset-intensive life insurance investments held by HSCM Bermuda Fund Ltd, HSCMu2019s multi-sector re/insurance fund.