Hudson Structured Capital Management has announced the successful closing of a new fund, HS Sawmill LP, with $110m in capital commitments from institutional investors.
The fund was formed to acquire a seasoned portfolio of life insurance-linked securities with additional follow-on reserves.
The launch of HS Sawmill reflects HSCM’s continued focus in the life insurance sector, including bespoke and differentiated opportunities in insurance-linked structured credit. Both existing HSCM investors and new relationships participated in the fund, alongside commitments from HSCM’s management team.
“HS Sawmill reflects our investment approach, emphasizing innovative and tailored solutions, to source, underwrite and structure transactions designed to provide value to our stakeholders,” said Gokul Sudarsana, Partner & Co-Chief Investment Officer of HSCM’s Insurance Strategy.
“We are excited about the fund’s role in supporting development of secondary liquidity in the Life ILS asset class. Moreover, the transaction featured an entry point and differentiated capital structure that we believe was well-received by participating investors.”
“This new offering will broaden and formalize our investing activities in premium financing, commission financing, and the broader asset-backed opportunity set in insurance, which we view as an area of growing activity,” added Vikas Singhal, Partner & Co-Chief Investment Officer of HSCM’s Insurance Strategy.
Proskauer Rose LLP served as HSCM’s legal counsel on the transaction.